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Continued growth for the Metnor Group

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Consolidated accounts released today by the Metnor Group show continued growth and a significant bounce-back from the COVID pandemic.  With turnover for the Group reaching £81 million in 2021.   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.   The Group achieved turnover of £81 million, compared to £68 million in 2020 with gross profit margins improving from 5.0% to 9.9%.  The cost-saving initiatives introduced in 2020 having had a positive impact for the business with workforce numbers being maintained throughout the period.   The Group’s focus on cash management has continued throughout and whilst some unwinding of the 2020 year-end balance of £7.8 million has occurred, the 2021 consolidated cash balance was £4.2 million.   A number of contract wins for both 2022 and 2023, also further support the Metnor Group’s future ambitions.     Chris Cant, CEO of the Metnor Group said:    “Despite a challenging…

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Norstead sets sights on record revenue as it celebrates 50th anniversary

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Norstead, part of the Newcastle based Metnor Group, is celebrating being well on their way to record revenues and prestigious new client wins as it celebrates its 50th anniversary. Norstead was established in 1971 and specialises in the design and installation of mechanical and electrical services in a number of commercial and industrial sectors. Part of the Metnor Group, the firm has the experience and financial stability to carry out multiple contracts with a typical individual project value of up to £30 million.  Despite the challenges of the pandemic yielding tough results, turnover for Norstead is forecast to reach £40m in 2022, expanding from a turnover of £23.5m in 2019. They have recently relocated into Metnor House, in Newcastle upon Tyne as part of their collaboration with sister company Metnor Construction, with another office in Maidenhead, Norstead lists some of the UK’s best-known companies as clients. The firm plans to secure new offices in Maidenhead later this year and create up to 10 new roles to support its ambitious expansion plans and bolster their engineering and commercial teams. Recently completed and current projects in the pipeline include the development of the White Room at the British Museum, the critical care…

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Double director promotion announced at Metnor Group’s Norstead division 

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Norstead, part of the Newcastle based Metnor Group, is delighted to announce the promotion of Dan Hopkins to Operations Director and Jonathan Grant to Commercial Director. These key promotions support Norstead’s ambitious plans for growth, demonstrating its commitment to investing in talent and expanding the business on the back of a number of new client wins. The firm has also recently welcomed three new recruits to bolster their operational and commercial teams. Norstead was established in 1971 and specialises in the design and installation of mechanical and electrical services in a number of commercial and industrial sectors. Part of the Metnor Group, the firm has the experience and financial stability to carry out multiple contracts with a typical individual project value of up to £30 million.  Despite the challenges of the pandemic, turnover for Norstead is forecast to reach £40m in 2022. Based at Balliol Park in Newcastle upon Tyne, with another office in Maidenhead, Norstead lists some of the UK’s best known companies as clients. Recently completed and current projects in the pipeline include the development of the White Wing at the British Museum, the critical care unit at Chelsea and Westminster hospital and a new Emergency Department at Darent Valley hospital. Other projects include an exclusive residential development on Oxford Street in London, a new Hyatt hotel…

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