Meldrum Group Ltd recorded a fantastic set of results despite the pandemic, managing to maintain gross net margin profitability at 4% on £29.1m turnover.
Dave Meldrum, CEO of Meldrum Group said “Extremely detailed business plans were produced in 2019 for all Meldrum Delivery Companies and indeed the Group itself. These plans were soon to be tested and stressed to their limit with the onset of the pandemic and all the consequences of the ensuing lockdowns and subsequent economic slowdown. As a result, our plans had to be continually revisited and adjusted to take into account ever-evolving safe working conditions and supply chain issues which could have impacted dramatically on our overall performance. However, I am delighted to report that the recently re-modelled Group structure proved its ability to be flexible and adapt, combined with employing our well thought through business continuity plans, we have recorded some fantastic results .”
Meldrum moved to a Group structure in 2019 and the appointment of John Davies as Group Managing Director and the promotion of Cheryl James to Group HR & Marketing Director in August 2020 has meant a real focus on recruitment, retention and promotion of staff.
Meldrum have been successful in securing a number of significant contracts; some of which stretching into 2023/24 pipeline, ensuring the business is robust and sustainable. The pandemic has had an impact on this years performance as project starts on site have been significantly delayed, but Meldrum feel this ‘bottle-neck’ seen in the industry is slowly starting to clear.
Meldrum, having recently celebrated its 20th year of trading and is positive about the future. Cheryl James, Group HR & Marketing Director said “We have a great business with great people. It is these people who we have supported and in turn they have supported the business through these unprecedented times. We were thrilled to have been awarded Investors in People Gold Award at our recent reassessment in recognition of our ongoing commitment to our people. Throughout these difficult and challenging times we have continued to support our employees and continue investing in training and development opportunities.”
Meldrum have started their business planning cycle for 2022, and are quietly confident they can build on the previous years’ successes, “the construction industry is never easy to predict, now so more than ever but I am confident the work we have completed over the last 2-3 years will stand us in good stead for 2022 and beyond” Meldrum said.