JRL shows resilience

JRL shows resilience

JRL shows resilience

JRL Group – a diverse mix of companies including J Reddington, McMullen Facades and London Tower Cranes – grew 7% to £609 million in 2021 (2020: £569 million). However, this was still slightly lower than in the record year 2019, when it brought in £622 million in the year before covid emerged.

Pre-tax profit decreased 4% in 2021 to £24.9 million (2020: £26.0 million).

The group went from a net debt of £500,000 to a net cash position of £35.8m in 2021. Cash in the bank also improved over the year from £112.2m to £117.0m.

“The group’s overall performance in 2021 showed impressive resilience, given the trade challenges of the pandemic,” said Founder President John Reddington.

J Reddington, the earthworks and concrete framing contractor, made a pre-tax profit of £800,000 on a turnover of £316.1m, compared to £8.3m and £253.1m in 2020 respectively. was attributed to cost inflation pressures.

Midgard Ltd, the general contracting company, posted a pre-tax profit of £14.5 million in 2021 on a turnover of £456.8 million. In 2020 it made £6.4 million on sales of £403.9 million.

Midgard Public Sector Ltd saw its turnover fall from £28.1m in 2020 to just £3.0m in 2021, from a profit of £2.1m to a pre-tax loss of £400,000 in 2021.

Ark Mechanical & Electrical Services saw sales rise to £104.7 million, up from £74.1 million in 2020, and a pre-tax profit of £12.1 million (2020: £6.2 million).

JRL Drylining achieved a pre-tax profit of £3.6m in 2021 on a turnover of £21.6m, compared to a loss of £1.9m in 2020 and a turnover of £19.5m.

London Tower Crane Hire & Sales revenue was relatively stable at £37.7m (2020: £38.0m), but profits declined to £7.2m before tax, compared to £9.7m in 2020 .

McMullen Facades sales rose from £53.8m in 202 to £65.2m in 2021, but pre-tax losses increased from £1.9m to £6.8m.

UK Facades also made a loss – down £6.6m before tax in 2021, compared to a profit of £600,000 in 2020. Turnover fell from £52.7m to £18.7m.

JRL Civil Engineering lost £200,000 pre-tax on sales of £9.1 million in 2021. In 2020, it lost £300,000 on £9.8 million in sales.

Slipstructures made a marginal profit, while scaffolding arm JRL Access lost £500,000 in 2021. Each brought in around £6 million.

JRL Demolition had a busier 2021, with sales of £8 million (2020: £2 million) and a pre-tax profit of £600,000 (2020: £200,000 loss).

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