McLaren’s construction business has received a £5m cash injection after issuing new shares.
McLaren Construction Group issued the new equity earlier this month. A spokesman said the investment reflected confidence in the company’s prospects: “Shareholders have shown confidence in McLaren Construction by investing £5m to support future growth in established sectors such as offices, residential, logistics, healthcare, sports and leisure and education, and to support substantial investments in quality control and digitisation across the business,” he said.
The company is currently two weeks overdue filing its accounts for the year to 31 July 2020, but is set to publish them next week. The spokesman said the firm had £38.9m of cash in the bank at the end of July with no external debt.