Munnelly Group has delivered increased revenue and stable equity having expanded into new markets while maintaining operational discipline.
Turnover for the year ended 31 March 2024 was £147.2 million, up 24 per cent from £119 million the year prior, generating a pre-tax profit of £1.4 million (FY2023: £1.4 million).
“Despite this significant growth, we have maintained rigorous operational discipline,” a financial statement reads.
“Over the past year, we have strategically repositioned ourselves, expanding into new sectors and reducing reliance on high-risk revenue streams.
“This approach has enabled us to diversify our portfolio, unlocking sustainable growth opportunities while maintaining synergies across our group of businesses.”
The Harrow-headquartered construction and infrastructure support services business turned in an operating profit of £1.5 million, compared to £1.4 million in the previous year.
At the year end, Munnelly’s balance sheet had net assets and total equity of £11.2 million, holding steady with the year before (FY2023: £11.2 million), with improved cash reserves of £5.4 million (FY2023: £4.1 million).
Munnelly Group posted profit for the year of £979,000, compared to £1.3 million recorded the year prior.
“Our focus remains on operational excellence but only in markets where we can thrive and create lasting value,” a financial statement reads.
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