Tyneside construction company Meldrum Group has booked a £260m pipeline of orders on top of a strong trading year in which turnover almost doubled.
The Gateshead group of companies, which includes Meldrum Building Services, Meldrum Fire Engineering and Meldrum Plant and Transport, published accounts for 2022 showing turnover rose from £26m to £50m as it returned to a “new normality” after the pandemic. The group had an average of 198 employees last year, up from 165, and now employs over 200 people in the North East with offices in Tyneside and Teesside.
It said macro-economic pressures impacted gross margin, decreasing from 14% to 11%, but the group still grew operating profit from £637,437 to £1.62m. Overall profit for the year was £1.36m, up from £775,980, and looking ahead the group has booked a pipeline of work worth more than £260m.
