NuGen Properties

Multiplex revenues dip

Multiplex Europe has reported revenue of £574m for 2022, which was 28% down on 2021’s £805m.

However, this is expected to be temporary. The drop in revenue was attributed to the completion of several large projects while newer jobs only start generating ‘meaningful’ turnover in 2023.

Despite the fall in revenues, pre-tax profit grew nearly threefold to £8.5m (2021: £2.9m) and the accounts appear solid. Cash inflow from operating activities was £136m in the year, compared to a £58m outflow in 2021, ending the year with £104m cash and no debt.

“We continue to focus on outperforming, delivering exceptional buildings to our clients and have confidence in our ability to both win new work, at the right terms, and deliver our pipeline of projects under the current operating environment,” wrote directors Callum Tuckett and Jaideep Thatai in the annual report. “Our secured and preferred workbook provides transparent, strong cash flows throughout 2023 and beyond, providing financial resilience for the business.”

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Customer Reviews

Nugen Properties

Customer Reviews

Dan Morten 18/01/22

Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Great firm to communicate with fast and good quality work.