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Walsall-based M&J Evans Construction saw turnover dip slightly in the year ended 31st December 2024 to 拢323.3m (2023: 334.3m) but increased operating profit by 31% to 拢5.1m (2023: 拢3.9m). Profit before tax was up 67% to 拢3.8m (2023: 拢2.2m), supported by lower exceptional charges
Group order book grew 13% to 拢504.0m (2023: 拢446.3m), with the tender strike rate improving to 25.3% (2023: 23.8%).
The company鈥檚 new Eastern Counties region began winning work, contributing 拢17.8m to the year-end order book.
The balance sheet shows cash of 拢25.2m (2023: 拢18.2m) while a refinancing during the year has extended debt maturity by four years and added 拢9m of additional liquidity
Chief executive Chris Southgate said that the improvement in profits in the face of a challenging market backdrop was down to tight cost control and disciplined contract management.
He said: 鈥淒espite ongoing challenges in the UK housing market, FY24 was a year of strong financial and operational progress for M&J Evans, backed by tight cost control. We delivered significant growth in profits, strengthened our balance sheet and continued to deliver against our strategy.
鈥淭he launch of our Eastern Counties region has been a particular success, contributing meaningfully to our order book in its first year and validating our focus on driving regional growth. Looking ahead, with a robust order book, strong balance sheet and increasing signs of recovery in the housing market, we remain confident in our future prospects.鈥�
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