MCLAUGHLIN & Harvey Holdings Limited has announced a return to profit for the year ended June 30, 2024.
The business has reported a turnover of £870.4 million and a pre-tax profit of £12 million.
The firm, which specialises in building and civil engineering contracting, property development, the operation of landfill sites, and wholesale distribution employed 872 direct employees in 2024, with many thousands more indirectly employed throughout the UK and Ireland via its supply chain.
Construction and civil engineering accounted for £782.7 million of the turnover.
The group enters the new trading year with net assets of £58.4 million and a cash balance of £147 million, with no borrowings.
Philip Cheevers, group chief executive, said, “Our reported results show a return to profitability in the financial year, with all parts of the business contributing positively to performance. The business continues to benefit from a diversified portfolio of work in both the private and public sectors across our target industries, with a focus on winning new work via two-stage tender processes and frameworks, whilst developing long-standing client relationships.
“Looking forward, the current construction and civil engineering order book is in a positive position, with the majority of budgeted turnover secured for the financial year ahead.”
During the year, the business averaged 44/45 in its Considerate Constructor Scheme (CCS) audits, retained its Platinum membership of The 5% Club, and achieved a Social Return on Investment (SROI) of 57%.
McLaughlin & Harvey added that progress has also been made on achieving net zero emissions (Scope 1 & 2) across the group by 2030 with reported carbon intensity continuing to reduce against a 2020 base year figure.
