Lee Marley posts record revenue despite project delays

The brickwork contractor was hit when the two-staircase rule for residential towers was lowered from 30m to 18m in July 2023.

Purchasers paused schemes to revamp, pushing again round £30m of secured work by as much as 9 months.

Regardless of the programme setback, pre-tax revenue rose 25% to £3.6m because the group reduce overheads and boosted undertaking returns.

The foremost value restructuring noticed senior administration layers eliminated and larger accountability pushed via the enterprise, chopping admin bills by 7% and enhancing returns by 5% between the primary and second halves of 2024.

The most recent figures full a enterprise turnaround following a £2.2m slide into the purple in 2022 within the face of wage and supplies inflation.

The year-end order e-book swelled to £135m with LMB ending the 12 months with £2m money in hand, persevering with to reinvest in its scaffolding arm and coaching operations.

LMB additionally expanded its in-house apprenticeship academy, enrolling 26 new starters to take whole apprentices to 117 throughout the UK. The agency has now gained approval to ship Stage 2 and Stage 3 brickwork apprenticeships.