GMI Construction Group PLC

GMI Construction, one of the largest independent construction firms in the North of England and the Midlands, has demonstrated growth and profitability in the year ending October 2021. The Latest figures capture activity during the worst after effects of the pandemic, a time during which stop-start lockdowns were commonplace and general economic activity was subdued.

The key data points from its annual results are:

Year end                                                        Sep 2020     Sep 2021

Turnover (£’000)                                             114,689        120,737

Committed forward orders (£’000)           100,000        300,000

Gross Profit (£’000)                                        6,554            5,874

Gross profit as % of turnover                        5.7%              4.9%

Commenting on the results Lee Powell, who was appointed CEO of the firm in January 2022, said: “Our pandemic trading results have demonstrated growth and resilience during a time of unprecedented uncertainty in the economy. We have also remained debt free, and have committed some of the increased revenue to significant investments in people, new facilities and client support in anticipation of delivering a strong pipeline of new contracts that have started during the current trading period.

“Our significant investments have included a large scale digital transformation project, a newly formed ‘Learning and Development Department’, and the opening of new offices in the North East of England, where the Government’s Levelling Up agenda is already delivering large projects.

“The business is now mature and established, it has never operated at a loss in the 35 years of its life. Our commitment to people has led to respected individuals from the sector joining our management team and we can proudly say that our training programme is resulting in 7.5% of our frontline staff being involved in accredited training from apprenticeships to NVQs to Masters degrees.

“Materials costs are always a concern in the construction sector, in this financial year we have protected our clients from the worst effects of inflation. Going forward contracts have anticipated double digit inflation in respect of core-components.

“The outlook for 2022 is one of strong demand for our construction services, from a high level of repeat business opportunities to a number of landmark projects for new clients that are activity involving in levelling up the economy in our regional footprints. We face the next 12 months with optimism and confidence.”

ENDS

News release: issued on behalf of GMI Construction Group PLC by Recognition PR.For further information contact Andrew Douglas on 01325 363436

Photo caption: GMI Construction Group demonstrates growth and profitability in the year ending October 2021

Notes to Editor

GMI Construction Group PLC is an established and successful UK contractor and construction services company providing specialist design and build capabilities spanning multiple sectors.

Celebrating 35 years in 2022, the company has a proven track record for the delivery of high quality, energy efficient, often complicated projects from inception to completion with a strong focus on innovation and technology.

It operates across multiple sectors and markets including commercial offices, mixed-use buildings, residential, retail, education, distribution and logistics, manufacturing, hotels, and leisure.

Driven by strong core values, its focus is on exceeding customers to leave a positive legacy in the communities we serve, protecting the environment for the future generation and promoting a safe and inclusive workplace for our colleagues.

https://gmiconstructiongroup.co.uk/