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William Hare Group’s latest reported results show a sharp split: revenue fell 20% to £338m in FY2025, while pre-tax profit increased 29% to £40m, according to Building. The figures were reported on 5 October 2026; Companies House confirms the group’s accounts for the year ended 31 December 2025 were filed on 1 October 2026. The underlying accounts PDF was not accessible for direct verification, so the FY2025 line items and the reasons for the divergence are attributed to Building.
What William Hare reported for FY2025
Building reported that William Hare’s revenue declined 20% to £338m for the year ended 31 December 2025, while pre-tax profit rose 29% to £40m. The filing date of the relevant group accounts is confirmed by Companies House, but the reported figures could not be checked against the accounts document itself. The precise FY2025 margin and detailed drivers of the revenue and profit movement therefore remain unconfirmed here.
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FY2024: turnover and profit rose sharply
In the prior year, William Hare Group reported turnover of £422.5m for the year ended 31 December 2024, up from £315.5m in FY2023. Pre-tax profit increased to £31.4m from £5.8m. The company also reported EBITDA of £33.4m, compared with £9.8m, and an EBITDA margin of 7.9%. These are the company’s figures from its FY2024 results announcement.
| Measure | FY2023 | FY2024 |
|---|---|---|
| Turnover | £315.5m | £422.5m |
| Pre-tax profit | £5.8m | £31.4m |
| EBITDA | £9.8m | £33.4m |
| EBITDA margin | not stated in the company’s FY2024 announcement | 7.9% |
The FY2024 increase in pre-tax profit was more than fivefold year on year. This comparison should not be confused with the FY2025 figures: FY2024 values above come from the company announcement, while the FY2025 figures are reported by Building and have not been checked against the filed accounts.
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Why did profit rise in FY2024?
William Hare attributed its FY2024 growth to its global footprint, diversification across sectors and exceptional projects delivered during the year. In its announcement, the group also highlighted work connected with sectors it sees as aligned with government growth and funding, including nuclear energy, as well as demand it described for low-carbon buildings and steel reuse. Those points are the company’s explanation and strategic view, not independent evidence of future demand.
What the FY2025 figures do—and do not—show
Revenue falling while pre-tax profit rises indicates that the two reported totals moved in opposite directions, but the available figures do not establish why. They are not enough to conclude that margins improved, because the FY2025 margin and the detailed components behind revenue and profit have not been verified from the accounts. Building’s headline refers to improved margins, but the accessible evidence here does not establish the exact FY2025 margin or its calculation.
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Outlook at the time of the FY2024 announcement
When it announced FY2024 results on 3 October 2025, William Hare warned that economic uncertainty and a market slowdown could affect customer confidence and delay project starts. CEO and Chair Sue Hodgkiss CBE said the group’s order book was diversified, while also acknowledging uncertainty in the project pipeline: “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.” The statement reflects management’s outlook at that time, not a verified explanation of the subsequent FY2025 results.
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