R J McLeod reports loss in profit

R J McLeod contractors has published a trading update for the year ended 30 October 2022 – reporting a rise in turnover but a drop in profit.  

The Group’s civil engineering and building contracts continue to be in roads, marine, flood prevention, infrastructure, energy, public realm and waste sectors.  

Highlights  

• Turnover: £210,272,302 (FY2021: £192,293,051) 
• Gross profit: £21,336,815 (FY2021: £23,611,006) 
• Pre-tax profit: £18,602,741 (FY2021: £24,976,971) 
• Proft after tax: £15,050,816 (FY2021: £20,832,451) 
• Retained earnings: £63,496,130 (FY2021: £67,340,314) 
• Plant and transport investment: £2,467,167 (FY2021: £7,176,040) 
• Cash (at bank and in hand): £45,572,565 (FY2021: £54,958,430) 
• Shareholders’ funds: £64,037,942 (FY2021: £67,882,126) 

The Group had no borrowings and reported a “strong financial footing”. 

It reported a profit and loss (P&L) of £63,496,130 (FY2021: £67,340,314). 

Net assets were £64,037,942. 

A dividend of £20 per share was paid in April 2022, relating to the year ended 31 October 2021.  

Outlook 

“The Group will continue to monitor the changing economic position within the UK construction industry, with particular focus on the sectors of the market in which it operates,” said the Group. 

Adding: “The ability to be flexible within a changing market is an area which the Group will concentrate on in the short term.” 

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