Turnover for ultimate parent company JRL Group Holdings was down 8% in 2020 to 拢570m (2019: 拢620m).
Until 2020, JRL Group had grown every year since 2010, when it turned over 拢106m.
However, despite the impact of Covid-19, 2020 was still the company鈥檚 second biggest ever year in terms of turnover, beating 2018鈥檚 拢539m revenue.
Pre-tax profit for 2020 was down 21% at 拢27.2m (2019: 拢34.5m).
Chairman John Reddington said in the directors鈥� report in the 2020 accounts: 鈥淎 combination of contract deferrals and reduced productivity led to temporary reductions in turnover. Overall the directors are satisfied in the operational resilience demonstrated in this modest reductions considering the challenges represented by the pandemic.鈥�
He added: 鈥淭he group is expected to return to controlled growth in 2021 supported b a strong secured order book.鈥�
JRL Group Holdings Limited is the ultimate parent company of, among others, J Reddington, Midgard, JRL Civil Engineering, McMullen Facades, London Tower Cranes Hire & Sales and Trent Precast Concrete. It began in 1996 as a groundwork and reinforced concrete frame specialist.
J Reddington Ltd generated revenue of 拢253.1m (2019: 拢283.2m) and made a pre-tax profit of 拢8.3m (2019: 拢15.0m).
Midgard Ltd generated revenue of 拢403.9m (2019: 拢308.1m) and profit of before tax of 拢6.4m (2019: 拢19.1m).
McMullen Facades made a pre-tax loss of 拢1.9m (2019: 拢11.4m loss) on turnover of 拢53.8m (2019: 拢26.7m).
London Tower Crane made a pre-tax profit of 拢9.7m (2019: 拢9.9m) on revenue of 拢38m (2019: 拢42.2m).
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