Offsite construction specialist, Merit, has announced a major investment in its in-house Research & Development (R&D) and automation technology, as part of its growth strategy.
The company has committed an investment of nearly £8 million in new intellectual property this financial year, to optimise its product offering in the digital manufacturing sector.
This includes a “comprehensive programme of heavy investment” in its manufacturing capabilities, to boost efficiencies and reduce timelines.
Merit’s investment is underpinned by robust financial results reported for the year ended 30 June 2024, with revenues of £79.7 million and pre-tax profit of £5.7 million.
“Merit’s investment in these advanced technologies is a testament to its dedication to enhancing production capabilities while staying ahead of market demands,” said Merit.
“The company’s strong financial results, driven by major project wins and completions across sectors such as healthcare and life sciences, reflect its resilience and continued focus on growth and productivity.”
Merit said its in-house technology enables it to deliver facilities with a Pre-Manufactured Value (PMV) of between 75 per cent and 95 per cent and technically complex buildings in a third of the time of traditional methods.
It added: “As Merit looks ahead, the company remains committed to innovation, sustainability and efficiency – principles that have guided its operations and strategies.”
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