William Hare Group has reported a year of substantial growth, with turnover reaching £422.5m to December 2024, up from £315.5m in the previous period. EBITDA also grew significantly to £33.4m, as the business delivered on its strategy for a long-term sustainable future.

The company’s balance sheet demonstrates robust results in contrast to some of the wider sector, with pre-tax profits growing from £5.8m in 2023 to £31.4m in 2024. EBITDA grew from £9.8m to £33.4m in the same period, with margins of 7.9%. The business also holds significant net assets of £84m (2023: £55.8m) and strong cash reserves.

The Group put its strong performance down to factors including its global footprint, sector diversification and a number of exceptional projects delivered in FY2024 which accelerated turnover growth.

These results predate William Hare Group’s recent acquisition by entrepreneur Simon Orange.

Sue Hodgkiss CBE, the Group’s CEO and Chair, comments: “We are delighted to share another year of resilient performance and a robust balance sheet, both of which are testament to the hard work and commitment of our talented workforce.”

While the business continues to trade profitably, it highlighted the need to remain attentive and responsive to evolving market conditions. Given ongoing economic uncertainty and some market slowdown in 2025, which may impact customer confidence and delay project starts, directors noted the importance of staying cautious.

Hodgkiss continues: “We are hugely grateful to be trusted by our clients to deliver some of the most significant and challenging projects in the UK and globally. Whilst economic volatility is creating some uncertainty in the project pipeline, our order book is well diversified, and we plan to be vigilant in the face of a changing marketplace.”

“As a business we have worked very hard to remain at the forefront of our industry during a time that has been challenging. There are however many well documented themes which will create significant demand for fabricated steel both domestically and in the global marketplace in the near future. Backed by our versatility, expertise and global reputation, we are poised to build on the solid performance of this year and look to the future with a mindset of optimism and continued resilience.”

William Hare Group continues to prioritise sectors which are well-aligned with government growth and funding, and link to the net zero agenda. Having established its reputation in the highly specialised nuclear energy sector, working on the Hinkley Point C project, energy continues to be a focus for the business as governments both in the UK and in other developed countries make further commitments to nuclear infrastructure.

The London market is also seeing significant demand from tenants for new, state-of-the-art, low-carbon buildings. With recent projects including 30 Duke Street, the UK’s largest reused steel project, William Hare Group is leading the charge towards sustainability in structural steel. It is working with clients to implement low-carbon steel, reuse, and lean design strategies to achieve world leading credentials for buildings in the City of London.

The Group has also continued to make significant investments across its assets, both in new machinery and maintenance of existing equipment. A notable investment is the installation of solar panels at the business’ Scarborough facility as part of the Group’s continued efforts to decarbonise, in line with recently released SBTI targets and its journey to Net Zero.

In line with the Group’s core commitment to Health and Safety, the business has also undertaken a significant investment and roll-out of a bespoke behavioural safety course to further embed an appreciation of attitudes, processes and procedures that keep staff, clients and the public safe.

Sue Hodgkiss added: “I’d like to take this opportunity to thank all of our staff who have all contributed to the success of the group over the past 12 months and whose dedication and loyalty has helped to further enhance our reputation both in the UK and globally.”