Image via built.com.au
Australian construction company Built has posted a strong financial performance for the year to June, nearly doubling its profit and lifting its dividend to $42.5 million amid a rebound in the commercial building sector. According to a report by The Australian Financial Review, the company’s revenue surged more than 50 per cent to $3.1 billion, supported by a growing pipeline of work across health, defence, and social infrastructure.
Despite the bumper results, Built’s director and sole shareholder Marco Rossi will receive less than a third of the total dividend payout. The company spent $29.2 million during the year to buy out the equity of its former chief executive, Brett Mason, who departed in 2023.
Built, founded in 1998 by Rossi and former partner Paul Attard, has evolved into one of the country’s largest private construction firms. Its recent portfolio includes some of Australia’s most high-profile developments, such as Atlassian Central, the Chifley South towers in Sydney, and Hanwha’s manufacturing facility in Geelong.
A rise in the company’s EBIT margin to 2.9 per cent, up from 2.5 per cent in the previous financial year, highlights the sector’s gradual recovery after post-pandemic challenges. Built’s Head of Construction, David Paterson, said the business continues to see “sustained growth” in key markets including health, defence, data centres, and social infrastructure.
Over the past year, Built commenced construction on major hospital projects across several states, including Queensland’s Queen Elizabeth II Jubilee Expansion Hospital, Barwon Women’s and Children’s Hospital, Ballarat Base Hospital, and Mount Barker Hospital in South Australia. The firm also secured new defence contracts in Western Australia, Queensland, and New South Wales.
Built’s growth is also being driven by digital transformation. The company has invested over $70 million in digital systems and innovation over the past seven years, an investment that is now yielding significant productivity gains. “The industry is on the cusp of a productivity boom if we can embrace digitisation,” Paterson noted, adding that AI technologies are expected to further enhance construction efficiency.
While Built has diversified into property development in recent years, its filings with the Australian Securities and Investments Commission (ASIC) show that the company’s principal activity remains focused on construction.
The strong earnings and continued reinvestment in innovation position Built as a leading player in Australia’s evolving construction landscape, one that’s adapting swiftly to new technologies while maintaining its core strength in delivering large-scale, complex projects.
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