Merit hails potential with 'greater than ever' pipeline

An off-site building maker says it is “excited about the future” following “strong” financial results.

Merit Group has hailed its growth potential thanks to a “greater than ever pipeline of work”.

And bosses at the Cramlington-based firm say its progress will be supported by a planned 250,000sq ft factory extension.

The upbeat outlook was revealed in financial results for the year to June 30 that showed the company – which designs and makes buildings in-house before transporting them to client sites – posted £79.7 million turnover in the 12-month period.

The figure marked a near ten per cent drop against the firm’s previous reporting run, though officials said the numbers were impacted by project delays caused by UK and US elections.

Gross profit fell from £17 million to £16.1 million, with pre-tax profit dropping from £7.6 million to £5.7 million.

Tony Wells, Merit chief executive, said: “This year’s results reflect the enormous talent, drive and ingenuity within our team.

“We’re building more than just facilities; we’re building a new future for how complex infrastructure is delivered, faster, better and more sustainably.

“Our commitment to nurturing future leaders through apprenticeships and graduate opportunities, increasing female representation and investing in strong leadership means we’re not only growing in scale but in resilience and expertise too.

“We are excited about the future.”

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