Meldrum Group records strong turnover and profits

The firm pulls in record returns amid macroeconomic challenges in the UK.

The 2022 accounts mark a return to ‘new normality’ for the company after the impact of COVID-19.

Report breakdown 

• Increased turnover from £26 million in 2021 to £50 million in 2022. 
• Net profit of £1.5 million for the year.
• Secured several contracts that will take them into 2024/25. 
• The firm remains cash positive. 
• Scored 85 out of 100 in its D&B credit rating
• Decrease in gross margin from 14% to 11%. 

The firm has been trading for 22 years and employs more than 200 people across its construction, fabrication, civil engineering, and building services.

Dave Meldrum, CEO of Meldrum Group, said: “Our detailed business planning and confident recruitment strategy has allowed us to ensure we were well prepared to deliver our planned increase in turnover. 

“This is set against a challenging backdrop of the industry suffering a lack of skilled resources across a number of disciplines resulting in huge inflationary demands on wages as companies competed for fewer candidates. 

“Our increased focus on recruitment and retention and the introduction of new initiatives in this area means we have maintained our workforce above the 200 mark, and we look forward to a future with a stable and motivated workforce.”

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