We’ve reported a record-breaking year with turnover more than trebling on last year, following a period of unprecedented growth.
We’ve enjoyed consistent growth for several years but the year ending March 2021 was exceptional – even in the face of industry-wide challenges posed by the Covid-19 pandemic and subsequent national lockdowns. As well as reporting annual turnover in excess of £20 million for 2020/2021, compared to £6.2 million for 2019, our profitability also increased significantly – making it our most successful year to date and the sign of things to come as we make a name for ourselves as a trusted offsite contractor.
Fuelled by increased company-wide investment, we experienced substantial growth across all areas of the business in 2020/2021. In the last year we’ve hired 35 new members of staff, opened a brand-new dedicated 100,000 sq. ft. manufacturing facility and invested more than £2 million in new machinery and equipment. This ongoing investment will continue to reduce the cost base for our customers and lay the foundations for our ambitious five-year growth plans, allowing us to increase the volume of projects we can deliver sustainably and without impacting on quality or customer service.
The construction industry has made a strong recovery since the start of the pandemic in early 2020 and the sectors in which we primarily operate – residential, including private and social housing, commercial and education, all continue to perform well, putting us in a favourable position both now and in the future. And having been early to the housing market, we’re now part of the Buildoffsite Property Assurance scheme (BOPAS) and have invested significantly in our technology to allow us to increase our offering within the housing market.
Ryan Geldard, Operations Director at M-AR commented: “We’re delighted that our novel approach is working well for our customers, and that is reflected in our financial results and forward order book. We’re entirely focussed on creating better project outcomes and lowering costs for our customers through our holistic assessments of their project needs and by aligning our people and technology, merging the gaps between traditional contracting and manufacturing.
“Our management team is committed to making M-AR a happy and healthy place to work. We are also keen to continue supporting our peers in industry to drive better collaboration. We’re first in line on many great initiatives that are breaking the mould of how high-quality construction projects are delivered.”