JRL Group continued to grow in size in 2019, with the firm turning over more than three times the amount it did five years earlier.
Financial results for the year ended 31 December 2019 show that its revenue stood at £622m, a 15 per cent increase on the £539m it achieved in 2018. In 2014, the group’s revenue stood at £198m.
Pre-tax profit also rose, reaching £33.5m in the period, up from £30.6m the year before.
Contracting arm Midgard turned over £308.1m in 2019, a rise from the £299.4m recorded the year before. It achieved a pre-tax profit of £19.1m, compared to the £13.9m figure 12 months earlier. Midgard’s revenue has nearly trebled since 2015 when it stood at £109m.
Its concrete business J Reddington turned over £283.2m in the year, an increase of £37.4m on its 2018 figure, and making a £15m pre-tax profit, compared to £7.3m in 2018.
Among the group’s major wins in 2019 was Consort Place, two 65 and 35-storey towers in east London’s Isle of Dogs for the Far East Consortium, which has a gross development value of £470m.
JRL has been one of the fastest growing specialists of recent years and was ranked as the 36th largest contractor in the UK by turnover in the CN100 2020. It acquired former Lakesmere subsidiary McMullen Facades in 2017. The subsidiary turned over £26.7m in 2019 and made a pre-tax loss of £11.4m, compared to a £48.1m turnover and £7.6m loss in the 12 months prior.
Source: Construction News