JRL Group – a diverse mix of companies that includes J Reddington, McMullen Facades and London Tower Cranes – grew turnover by 7% in 2021 to £609m (2020: £569m). However, this was still slightly down on the record year of 2019 when, in the year before covid emerged, it turned over £622m
Pre-tax profit dipped 4% in 2021 to £24.9m (2020: £26.0m).
The group moved from being £500,000 in net debt to a net cash position of £35.8m in 2021. Cash at bank also improved during the year from £112.2m to £117.0m.
“The group’s overall performance in 2021 demonstrated impressive resilience given the trading challenges of the pandemic,” said founder director John Reddington.
J Reddington, the groundwork and concrete frame contractor, achieved a pre-tax profit of £800,000 on revenue of £316.1m, compared to £8.3m and £253.1m respectively in 2020. The decline in profit was attributed to cost inflation pressures.
Midgard Ltd, the general contracting business, delivered a pre-tax profit of £14.5m on revenue of £456.8m in 2021. In 2020 it made £6.4m on £403.9m turnover.
Midgard Public Sector Ltd saw its revenue decline from £28.1m in 2020 to just £3.0m in 2021, moving from a profit of£2.1m to a loss before tax of £400,000 in 2021.
Ark Mechanical & Electrical Services saw revenue climb to £104.7m, up from £74.1m in 2020, and deliver a pre-tax profit of £12.1m (2020: £6.2m).
JRL Drylining achieved a pre-tax profit of £3.6m in 2021 on revenue of £21.6m, compared to a loss of £1.9m in 2020 and revenue of £19.5m.
London Tower Crane Hire & Sales’ turnover was relatively steady at £37.7m (2020: £38.0m) but profits dipped to £7.2m before tax, comparte to £9.7m in 2020.
McMullen Facades’ revenue increased from £53.8m in 202 to £65.2m in 2021 but its pre-tax losses widened from £1.9m to £6.8m.
UK Facades also made a loss – down £6.6m before tax in 2021, compared to a profit of £600,000 in 2020. Revenue fell from £52.7m to £18.7m.
JRL Civil Engineering lost £200,000 before tax in 2021 on revenue of £9.1m. In 2020 it lost £300,000 on £9.8m revenue.
Slipstructures made a marginal profit, while scaffolding arm JRL Access lost £500,000 in 2021. Each turned over about £6m.
JRL Demolition had a busier 2021, generating £8m revenue (2020: £2m) and making a pre-tax profit of £600,000 (2020: £200,000 loss).
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