Lee Marley Brickwork Limited has rebounded in 2023, marking a significant return to profitability after a challenging financial year in 2022.
- The company’s turnover saw a substantial increase of 22%, reaching £79.8m as opposed to the previous year’s £65.6m.
- A dramatic shift from a pre-tax loss of £2.0m in 2022 to a profit of the same amount in 2023 highlights their financial recovery.
- Operating profits soared from a £1.8m loss in 2022 to a £3.6m profit in 2023, underscoring effective management strategies.
- The company enters 2024 with a record order book, thanks to investments in affordable and build-to-rent housing.
In a remarkable financial turnaround, Lee Marley Brickwork Limited has emerged from a loss-making year in 2022 to post impressive profits in 2023. The company reported a 22% increase in turnover, achieving £79.8 million compared to £65.6 million in the previous year. This growth spanned across its key divisions, brickwork and scaffolding, which have been the pillars of its operational success.
The impressive shift from a pre-tax loss of £2 million to a profit of £2 million illustrates the robust financial health the company has achieved. Such a change reflects not only a recovery but an operational overhaul that has evidently been effective. The company’s operating profit also transformed significantly, moving from a £1.8 million loss in 2022 to a £3.6 million profit in the subsequent year, showcasing strategic improvements and resilience in business operations.
One of the key drivers behind this successful financial year was the burgeoning order book, which hit a record high of £114 million at the onset of 2024, up from £81 million the previous year. This growth has been primarily supported by increasing investments in affordable housing projects and institutional funding for build-to-rent housing, indicating a positive market response and strategic positioning by the company.
Lee Marley, founder and chief executive, notes that the company continues to operate within its available facilities and maintains a resilient balance sheet. This financial stability is bolstered by consistent investments in plant, equipment, and personnel, positioning Lee Marley Brickwork for continued growth in the upcoming year.
Lee Marley Brickwork’s strategic investments and operational efficiencies have successfully restored its profitability, setting a strong foundation for 2024.
