William Hare Group, the UK's second-largest structural steelwork contractor, has defied a sales slump to post a notable increase in pre-tax profits, highlighting a strategic maneuvering that could serve as a case study for resilience in uncertain economic times.
What Happened
William Hare reported a 27% rise in pre-tax profit, reaching £40 million in 2025, despite a 20% drop in turnover to £338 million. The company attributes its profitability to a diversified global footprint, which has provided stability amid economic and political uncertainties impacting project start dates. The group's operating margin also improved significantly, increasing from 7% to 11.5%. The UK branch, William Hare Limited, reported a more modest margin increase from 5.6% to 6.5%, translating to a £14.4 million operating profit on a £224 million turnover. Despite these gains, CEO Susan Hodgkiss warns of challenging conditions ahead due to ongoing volatility.
The group's strategic positioning was further strengthened by the June 2025 acquisition by Manchester entrepreneur Simon Orange, who acquired a controlling stake while the founding family retained significant shares. This move is part of a broader strategy to maintain competitiveness and adapt to shifting market conditions.
What This Means for Your Business
For AECM professionals, William Hare's performance underscores the importance of strategic diversification and global market engagement. The group's focus on sectors such as nuclear, LNG, data centers, and infrastructure suggests these areas are ripe with opportunity, even as broader economic conditions remain volatile. Companies can draw lessons from William Hare's ability to maintain strong operating margins through diversification and a well-distributed order book.
Moreover, firms should consider the implications of political and economic uncertainties on project timelines and adjust their risk management and forecasting models accordingly. The emphasis on a diversified and international approach could be crucial for maintaining resilience and securing future contracts in a competitive market.
What US Operators Should Watch
US operators should monitor the evolving conditions in the UK and global markets, particularly in the sectors William Hare targets. The company's ability to secure a varied pipeline of opportunities indicates potential procurement openings in 2027 and beyond. Additionally, staying informed about economic and political developments will be vital for timing project bids and understanding the market landscape.
For compliance officers and procurement directors, aligning with emerging trends in nuclear, LNG, and data center construction could enhance competitive positioning. Monitoring William Hare's strategic moves and adapting similar diversification strategies could yield significant advantages.
Source: https://www.constructionenquirer.com/2026/10/05/william-hare-powers-up-profit-despite-sales-slump/. Read the original story ->
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