Turnover trebles at modular building specialist

Hull-based off-site contractor, M-AR, has reported a record-breaking year with turnover more than trebling on the previous year, following a period of “unprecedented” growth.

The company, which was founded in 2007, said the year ending March 2021 was exceptional – even in the face of industry-wide challenges posed by the pandemic and subsequent national lockdowns.

As well as reporting annual turnover in excess of £20m for 2020/2021, compared to £6.2m for 2019, the company’s profitability also increased significantly – making it its most successful year to date.

Fuelled by increased company-wide investment, M-AR experienced substantial growth across all areas of the business in 2020/2021.

In the last year the company has hired 35 new members of staff, opened a dedicated 100,000 sq ft manufacturing facility and invested more than £2m in new machinery and equipment.

M-AR says the construction industry has made a strong recovery since the start of the pandemic in early 2020 and the sectors in which it primarily operates – residential, including private and social housing, commercial and education, all continue to perform well, putting the contractor in a favourable position.

The business is now part of the Buildoffsite Property Assurance scheme (BOPAS) and has invested in its technology to allow it to increase its offering within the housing market.

Ryan Geldard, operations director, said: “We’re delighted that our novel approach is working well for our customers, and that is reflected in our financial results and forward order book.

“We’re entirely focused on creating better project outcomes and lowering costs for our customers through our holistic assessments of their project needs and by aligning our people and technology, merging the gaps between traditional contracting and manufacturing.

“We are also keen to continue supporting our peers in industry to drive better collaboration. We’re first in line on many great initiatives that are breaking the mould of how high-quality construction projects are delivered.”