{"id":849,"date":"2023-06-15T14:46:00","date_gmt":"2023-06-15T13:46:00","guid":{"rendered":"https:\/\/www.murphygroup.com\/?p=849"},"modified":"2024-10-02T16:23:50","modified_gmt":"2024-10-02T15:23:50","slug":"significant-growth-and-confidence-in-outlook-murphy-releases-2022-financial-results","status":"publish","type":"post","link":"https:\/\/www.murphygroup.com\/staging\/significant-growth-and-confidence-in-outlook-murphy-releases-2022-financial-results\/","title":{"rendered":"Significant growth and confidence in *outlook &#8211; Murphy releases 2022 financial results*"},"content":{"rendered":"\n<p><strong>J Murphy &amp; Sons Limited is pleased to announce its financial results for the year ended 31 December 2022, demonstrating another year of significant growth and strong financial performance.<\/strong><\/p>\n\n\n\n<p>These results highlight Murphy&#8217;s commitment to delivering world-class infrastructure, while maintaining a focus on safety, operational excellence and sustainable business practices, with significant milestones in revenue, operating profit, order book, net cash and sustainability.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Financial &amp; Operational Highlights<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Group revenue up 17% to \u00a31,491m in 2022 (2021: \u00a31,274m), owing to dependable operational delivery and solid client and supply chain relationships.<\/li>\n\n\n\n<li>Operating profit increased by 111% to \u00a345.7m in 2022 (2021: \u00a321.7m), through delivering key infrastructure projects for our key clients and operational efficiencies.<\/li>\n\n\n\n<li>Net cash increased by 27% to \u00a3275.5m in 2022 (2021: \u00a3216.6m), underpinning our strong balance sheet.<\/li>\n\n\n\n<li>Continued commitment to safety; 30% reduction in Lost Time Injury rate, from 0.11 in 2021 to 0.07 in 2022.<\/li>\n\n\n\n<li>Increased employees to 3,688, up from 3,579, developing colleagues across the business and creating diverse, inclusive and engaged teams.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Sustainability Highlights<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Achieved a further 16.8% carbon reduction from 2021 \u2013 Murphy\u2019s biggest ever annual reduction.<\/li>\n\n\n\n<li>Cumulative emissions reduction total now sits at 39.88% since 2019 baseline \u2013 strengthening Murphy\u2019s position to achieve its 50% reduction target by 2026.<\/li>\n\n\n\n<li>ESG Committee formed with individual accountabilities under the banners of Climate Action &amp; Safety, Social Value and Governance.<\/li>\n\n\n\n<li>Reaffirmed commitments to achieving net zero by 2030 and becoming net positive by 2050 for all emission sources.<\/li>\n\n\n\n<li>\u00a334.5m invested in state-of-the-art, environmentally-conscious plant and equipment<\/li>\n\n\n\n<li>Continued investment of \u00a32.3m in colleague training and development<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Outlook<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Order book grew by 13% to \u00a32.52bn in 2022 (2021: \u00a32.23bn), with secured and anticipated orders across the UK, Canada and Ireland.<\/li>\n\n\n\n<li>Activities to support the energy transition continue to underpin activity across the business in our core sectors and geographies.<\/li>\n\n\n\n<li>Confident in strategic direction and broader opportunities for continued growth with a strong balance sheet and ongoing investment in sustainable practices meaning that Murphy is well-positioned for future success across its three geographies of the UK, Ireland and Canada.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><\/h2>\n\n\n\n<p><strong>John Murphy, Chief Executive Officer of J Murphy &amp; Sons, commented:<\/strong><\/p>\n\n\n\n<p><em>&#8220;I am delighted to present another year of growth for Murphy, demonstrating a continuous, year-on-year improvement in our financial performance and operational delivery as we continue to play a central role in delivering world-class infrastructure. These outstanding results are a testament to the hard work and dedication of our colleagues, our focus on sustainable business practices and our strong client relationships.<\/em><\/p>\n\n\n\n<p><em>\u201cOur direct delivery operating model, supported by a select supply chain, continues to be central to our unique offering. At a time when resources are increasingly a limiting factor across the industry, we give our clients heightened confidence of reliable delivery performance.&nbsp;<\/em><\/p>\n\n\n\n<p><em>\u201cAs we approach our 75th anniversary in 2026, our vision to be the leading family-owned construction business in the three geographies in which we work is within reach, and we remain focused on delivering long-term sustainable growth and creating a positive and lasting legacy across our projects and the communities we serve.\u201d<\/em><\/p>\n\n\n\n<figure class=\"wp-block-video\"><\/figure>\n\n\n\n<p>You can read the report in full here:&nbsp;<a href=\"https:\/\/www.murphygroup.com\/staging\/2022annualreport\">https:\/\/www.murphygroup.com\/staging\/2022annualreport<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>J Murphy &amp; Sons Limited is pleased to announce its financial results for the year ended 31 December 2022, demonstrating another year of significant growth and strong financial performance. These results highlight Murphy&#8217;s commitment to delivering world-class infrastructure, while maintaining a focus on safety, operational excellence and sustainable business practices, with significant milestones in revenue, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1934,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Murphy Releases 2022 Financial Results<\/title>\n<meta name=\"description\" content=\"Murphy announces significant growth and confidence in its outlook, releasing its 2022 financial results and showcasing strong performance across all sectors.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.murphygroup.com\\\/staging\\\/significant-growth-and-confidence-in-outlook-murphy-releases-2022-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.murphygroup.com\\\/staging\\\/significant-growth-and-confidence-in-outlook-murphy-releases-2022-financial-results\\\/\"},\"author\":{\"name\":\"admin@hydra\",\"@id\":\"https:\\\/\\\/www.murphygroup.com\\\/#\\\/schema\\\/person\\\/1b00181dd34a4567634e572a0a2d34dd\"},\"headline\":\"Significant growth and confidence in *outlook &#8211; 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