For the year to 31st December 2019, JRL Group saw its revenue grow 15% to 拢621.9m (2018: 拢539.2m), while pre-tax was up nearly 10% to 拢3.5m (2018: 拢30.6m).
The group began life as J Reddington Ltd in 1996 as a groundworks and concrete frame specialist contractor. It has since expanded its offerings with numerous niche subsidiaries.
The original business, J Reddington Ltd, contributed revenue of 拢283.2m in 2019 to the group and made a pre-tax profit of 拢15.0m, compared to 拢245.8m and 拢7.3m respectively in 2018.
Midgard, a main contracting business, saw its turnover grow from 拢299m in 2018 to 拢308m in 2019. Its pre-tax profit rose from 拢13.9m to 拢19.1m.
Midgard Public Sector, formed in 2017, generated 拢32m in just its second full year of trading and made apre-tax profit of 拢300,000.
The highly profitable London Tower Cranes Hire & Sales business made a pre-tax profit of 拢9.9m on 拢42.2m revenue, which was similar to 2018鈥檚 拢9.8m pre-tax profit on 拢40.0m revenue.
Other parts of the business were more solid than spectacular.
JRL Plant & Logistics reported a profit before tax of 拢700,000 on revenue of 拢54.3m, compared to 拢900,000 and 拢47.6m in 2018.
Thames Reinforcements鈥� revenue dipped a little in 2019, from 拢54m in 2018 to 拢51.5m. Profit before tax was 拢1.2m, compared to 拢1.9m the previous year.
Ark Mechanical & Electrical Services made 拢100,000 on 拢44.1m revenue in 2019, compared to 拢300,000 profit before tax on 拢42.9m revenue the previous year.
JRL Drylining, which started trading in 2014, had a busy year, making a pre-tax profit of 拢1.8m on 拢23.8m revenue in 2019, compared to 拢600,000 on 拢10.9m in 2018.
UK Facades made a pre-tax loss of 拢400,00 on revenue of 拢45m, compared to a loss of 拢2.5m on revenue of 拢21.5m in 2018.
JRL Civil Engineering, which started trading in 2015, made a loss of 拢1.4m on revenue of 拢13.1m in 2019, compared with a pre-tax profit of 拢200,000 on revenue of 拢17.9m the previous year.
Chairman John Reddington said: 鈥淭he group has delivered a strong set of results for the year with increased turnover and sustained profitability. Our order book is solid and the balance sheet continues to grow to support the business.
鈥淥ur integrated Tier 1 offering continues to be well received in the market where our clients appreciate our hands on approach and unrelenting focus on quality. Self-delivery is central to our business, where we strive to deliver a complete construction solution.
鈥淥ur clients benefit from early engagement and the flexibility to progressively engage the group starting with the enabling works, through the shell and core packages and full turnkey if required. By reducing reliance on external subcontractors for critical packages, our approach reduces risk to programme and provides increased cost certainty.鈥�
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