Monthly Archives

September 2021

Challenging year but record growth forecast for The Metnor Group

By | Client PR Stories | No Comments

Consolidated accounts released today by The Metnor Group show a reduction in turnover for 2020 due to the pandemic but record growth is forecast thanks to a strong order pipeline and prestigious new contracts. Based in Newcastle, The Metnor Group comprises three main trading divisions which operate in the construction, mechanical and electrical services and pressure testing sectors. Each division is a specialist in its own field and this individual expertise combined with the strength of the Group’s resources enables the company to deliver first class products and services to their customers and clients. Like many other firms in the construction industry, the effect of COVID-19 has been seen across the Group. The impact of site closures – as provisions were made to operate safely and within Government guidelines – together with additional costs as sites were re-mobilised at reduced capacity, has resulted in both decreased turnover and margins.  Turnover achieved in 2019 was £92 million whilst it was £68 million in 2020 and gross profit has been squeezed from 8.5% to 5.7%. Chris Cant, CEO of Metnor Group said: “2020 was undoubtedly a very challenging year for the Metnor Group. The pandemic threw a number of challenges at us,…

Read More