Award-winning Hull modular construction company M-AR Ltd more than tripled turnover in a record-breaking year that saw it relocate in the city while taking on 35 new staff.
Sales grew from £6.2 million to £20.1 million, with operating profit up from £229,000 to £823,000, in the year to March 31.
Directors have described the performance - which propelled the business to glory in the recent Hull Live Business Awards - as “exceptional”.
Read more: Winners' tales from HullLive Business Awards 2021 as success celebrated
Founded in 2007, growth has been consistent, leading to the move from Melton to Freightliner Road, and a dedicated 100,000 sq ft manufacturing facility.
A further £2 million has been invested in new machinery and equipment to aid a reduction in the cost base for its customers, while laying the foundations for ambitious five-year growth plans, allowing it to increase the volume of projects it can sustainably deliver.
Ryan Geldard, operations director at M-AR, told how the construction industry made a strong recovery from the start of the pandemic, with sectors in which M-AR primarily operates - residential (including private and social housing), commercial and education, all performing well.
He said it has put the contractor in a “favourable position both now and in the future”.
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“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,” Mr Geldard said.
“We’re entirely focussed 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.
“Our management team is committed to making M-AR a happy and healthy place to work. 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.”
Having been “early” to the modular housing market, the 85-strong team is now part of the Buildoffsite Property Assurance scheme, with further investment in specific technology to allow it to increase its offering within the sector.
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