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Wed July 08 2020

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McLaughlin & Harvey grows turnover by 20%

26 Jun Construction group McLaughlin & Harvey grew its turnover by more than 20% in 2019 but failed to convert that into similar profit growth.

McLaughlin & Harvey Holdings results of year to 31st December 2019, filed at Companies House this week, show pre-tax profit steady at £11.5m (2018: £11.3m) on substantially increased turnover of £513.4m (2018: £422.7m).

“The directors are every encouraged by the performance of the group as a whole through 2019,” company secretary David O’Neil wrote in the strategic report.

“The construction and civil engineering businesses showed a strong improvement in trading performance during the year. The current order book, tender opportunities and performance for 2020 is healthy.

“The distribution business continues to perform strongly and current indications are that 2020 will be another successful year for the business.

“The environmental business also performed strongly in 2019 and, with the benefit of a number of long-term contracts supported by well-invested modern infrastructure and machinery, is best placed to take advantage if market opportunities going forward.

“The fundamentals of each of the businesses within the McLaughlin & Harvey Group are strong and focused on each of their respective markets. The balance sheet for the group shows net assets of £55.2m supported by net cash of £84.1m.

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