Laing O’Rourke recently completed St Pancras Railway Station in London.

The UK’s largest privately owned construction business, Laing O’Rourke, has announced a record £9.3 billion orderbook.

Despite increasingly tough trading conditions, the Group revealed a 21.5% rise in turnover to £4.24bn, while profit (EBIT) jumped 63.9% to £87.7 million, in its full-year results ending 31 March 2008.

Chairman and Chief Executive Ray O’Rourke put his company’s financial success down to its growing geographical diversity, insulating it against the worst of the credit crunch. Laing O’Rourke operates three ‘hubs’ – in the UK and Europe; the Middle East and India; and Australasia.

“Our hub-based business model, coupled with the skills of our directly employed workforce, has ensured flexibility to respond to changing macroeconomic circumstances in each of our operational units. This approach has exposed the Group to the considerable growth stories in each hub while de-risking the Group from the vagaries of any one market.”

The company, soon to begin work on its biggest UK project – London’s 2012 Olympic Games – has an impressive list of orders and delivered projects:

• Commencement of work on the US $20bn Al Raha Beach Project in Abu Dhabi
• Delivery of the ‘Old Town’ mixed use development in Dubai
• Work commenced on the Delhi Convention Centre to be used for 2010 Commonwealth Games in India
• Successful handover of Heathrow Terminal 5 on time and on budget
• Opening of the new high-speed St Pancras Railway Station in London
• Selected to deliver Australia’s first ever gas-fired, air-cooled power station.

The Group, which employs over 30,000 people spread across the three hubs, is retaining a close eye on the economy, and in its press statement continued: “The economic climate, particularly in Europe, is worse than 12 months ago and shows little sign of improvement, at least in the short term. While this has not affected our order book, the Group remains vigilant to any indicators that may demonstrate otherwise.”

For more information, visit: www.laingorourke.com