The country’s largest integrated brickwork and scaffolding subcontractor Lee Marley Brickwork has delivered record £87m for 2024 despite a turbulent period caused by government building safety changes.
The brickwork contractor was hit when the two-staircase rule for residential towers was lowered from 30m to 18m in July 2023.
Clients paused schemes to redesign, pushing back around £30m of secured work by up to nine months.
Despite the programme setback, pre-tax profit rose 25% to £3.6m as the group cut overheads and boosted project returns.
The major cost restructuring saw senior management layers removed and greater responsibility pushed through the business, cutting admin expenses by 7% and improving returns by 5% between the first and second halves of 2024.
The latest figures complete a business turnaround following a £2.2m slide into the red in 2022 in the face of wage and materials inflation.
The year-end order book swelled to £135m with LMB ending the year with £2m cash in hand, continuing to reinvest in its scaffolding arm and training operations.
LMB also expanded its in-house apprenticeship academy, enrolling 26 new starters to take total apprentices to 117 across the UK. The firm has now gained approval to deliver Level 2 and Level 3 brickwork apprenticeships.
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