A leading M&E contractor is ploughing millions back into its family-run business despite a challenging trading period that impacted profits.
HE Simm & Son recorded a pre-tax loss of £10.3 million (2022: £0.9 million profit) for the 17-month period ended 31 December 2023, after the business was significantly impacted by high inflationary pressures on fixed-price contracts.
The Liverpool-headquartered M&E contractor said the result was also due to it experiencing performance issues across legacy projects in London.
In response, the directors planned to inject £4 million of liquid assets into the business throughout 2024, with an initial £1.4 million invested followed by a further £2.6 million before the end of the year.
The group posted an operating loss of £10.3 million for the 17-month period ended 31 December 2023, against turnover of £118.2 million.
Meanwhile, company headcount continued to rise during the year, from 157 to 184.
The business said it has a strong forward order book and a robust pipeline of future opportunities across a balanced portfolio of resilient sectors.
HE Simm & Son has a leading reputation for delivering engineering services to the construction industry, specialising in design, manufacture and installation, commissioning and maintenance activities, as well as M&E and public health services.
The business was founded by Mr Ernie Simm in Liverpool in 1948, when he purchased George Hockenhall Plumbing Contractors for £200 – loaned to him by his father – Harold Edgar Simm.
He later changed the name to HE Simm in honour of his father. Ernie had a very simple philosophy, which was based on building trusted relationships with customers.
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