The CEO of North East construction company Metnor Group has hailed the firm’s resilience after posting a 19% boost in turnover despite a number of challenges.
The Killingworth business, which operates three divisions, has published accounts showing a significant bounce back from the Covid-19 pandemic and a return to profit. Turnover for the year ended December 31 2021 reached £81m, with gross profit margins improving from 5.0% to 9.9%.
Last year’s operating loss of £3.3m was also converted to profit of £1.25m, while the pre-tax loss of £3.29m was turned into profit of £1.28m, predominantly on the back of new contracts. During the year the average number of employees reduced from 188 to 169.
