Financial

Morgan Sindall has announced record profit and revenue in its unaudited accounts for the year ending 31 December 2023. The contractor posted a pre-tax profit of £143.9m, up from £85.3m in 2022. The increase represents a steady growth in operating profit after the firm’s 2022 pre-tax profit was hit by…

McLaughlin & Harvey has reported an £8.6m pre-tax loss, which it blamed on macroeconomic conditions and problem jobs. In the 12-month period to 30 June 2023, the County Antrim-based firm turned over £736.6m but delivered a margin of -1.2 per cent amid loss-making projects, inflation and labour supply issues. The…

Council-funded projects face an uncertain future as a once-steady source of work for contractors comes under financial strain. Keith Cooper reports Local authority-led projects to develop, remodel and maintain estates of town halls, leisure centres – and everything in between – feed a steady stream of work for contractors. Councils…

A timber and building materials supplier in Wales has been successfully sold out of administration. Gwent-based TG Howell & Sons Ltd entered administration earlier this month, with Katrina Orum and Huw Powell of Begbies Traynor appointed as joint administrators on 5 February. They oversaw a pre-packaged sale of most of…

Profit has fallen sharply at MJ Gleeson amid continued pressure on the housing market. The housebuilder saw pre-tax profit fall to £7.2m in the six months to 31 December 2023, down from £16.1m in the same period in 2022. Its revenue fell from £171m in the second half of 2022…

Briggs & Forrester’s latest set of group accounts have revealed pre-tax profit growth despite lower turnover, with directors hailing a “significant turnaround” in fortunes. The firm, the fifth largest mechanical and electrical (M&E) specialist in the UK and ranked 68th in the latest CN100 list of top contractors, saw revenue reach £212.5m for…

Turnover was stable but pre-tax profit fell in Bam’s UK construction arm in 2023, partly due to rising costs on an unnamed major project. Bam Construct & Ventures said it made revenue of €1.05bn (£900m) for the calendar year, compared with €1.06bn in 2022, in unaudited figures announced today by…

Northumberland-based offsite specialist Merit Holdings Ltd has reported strong turnover and pre-tax profit growth in its latest annual accounts. Revenue reached £94.3m for the year ending 30 June 2023, marking a 48 per cent year-on-year increase compared with the 2021/22 total of £63.7m. Turnover in 2020/21 was £41.8m. In his…

Turnover at family-run Welsh contractor C Wynne & Sons Ltd has more than doubled and is forecast to break the £100m barrier, according to its latest annual accounts filed with Companies House. Data for the year ending 31 July 2023 shows that revenue increased from £32.9m to £71.1m, generating a…

Turnover at Ipswich-based Barnes Group has reached £100m for the second consecutive year, according to the firm’s newly published annual accounts. Revenue for the year ending 30 September 2023 reached £100.7m, up marginally on the previous year’s £100.5m and more than 20 per cent higher than its 2020/21 total of…