Stanmore posts huge rise in revenue and profits

Turnover for the year ended 31 March 2024 was £189.7 million, up significantly from £138.8 million the year prior, generating a pre-tax profit of £19.6 million (FY2023: £8.1 million).  

At the year end, Stanmore’s balance sheet had net assets and total equity of £51. 5 million, compared to £37.9 million the year before, with improved cash reserves too of £13.2 million (FY2023: £3.6 million).         

The Erith-headquartered business posted profit for the year of £14.5 million, compared to £6.5 million recorded the year prior. 

During the year Stanmore battled higher interest rates impacting new housing, combined with a labour shortage in the sector.   

Despite this, its directors said Stanmore is in a “strong position” with “sufficient” financial resource and is able “to make decisions quickly and to protect itself and its workforce.”  

“The company has always taken care to build close relationships with its supply chain and whilst it will not be able to avoid some of the above aspects, the directors believe that, by having these relationships, it will be in a position to maintain the supply of materials and labour,” a financial statement reads. 

At 31 March 2024, Stanmore turned in an operating profit of £19.6 million, compared to £8.1 million in the previous year.      

The company provides full external facade packages including cladding, windows, structural steel, and architectural metalworks, as well as internal plastering and drylining. 

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