Meldrum Construction says it delivered an "excellent" set of results given the impact of Covid on its market last year.
The Gateshead-based group posted operating profit of £637,437 in 2021, down from £1.16m the year previously, as the pandemic wrought havoc with building projects and many customers put plans on ice. In newly published accounts, Meldrum said nervousness among clients to commit to spending hit its turnover, which fell from £29.1m to £26.5m.
Gross profit margin at the 200-strong business held firm at 14% thanks, it said, to greater efficiencies. That was despite significant materials price rises driven by supplier shutdowns and low stocks, and later compounded by "unprecedented" demand as the pandemic eased.
