Tilbury Douglas has improved its operating margin as it doubled pre-tax profit to £12m and closed the year with over £50m cash in the bank.

In 2024, the contractor increased revenue by 7% to £542m but made a bigger leap in profitability, with operating profit jumping from £3.8m to £11.5m, lifting its margin from 0.7% to 2.1%.

That shift marks a key milestone for the group in only its second full year as an independent business, driven by stronger performances in building, fit-out and engineering. Infrastructure also saw big gains after a turnaround year.

Tilbury Douglas secured over £637m of new work during the year and ended with a £1.26bn forward order book, rising to £1.32bn by March.

This covers the 2025 revenue target and 69% of 2026’s.

Chief executive Chris Tatton said: “Tilbury Douglas continues to enjoy improving performance, which brings financial and business stability.

“With a robust long-term order book, a strategy well-aligned to national needs, and talented people and suppliers, our group has a strong platform to continue delivering great projects for our valued customers.”

Projects in education, health, justice, defence and water now make up over 90% of revenue. Key 2025 wins include new schools, prison jobs, and the Barbican renewal.