{"id":818927,"date":"2025-01-11T04:11:31","date_gmt":"2025-01-11T10:11:31","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/11\/turnover-rises-at-diversified-family-contractor\/"},"modified":"2025-01-11T04:11:31","modified_gmt":"2025-01-11T10:11:31","slug":"turnover-rises-at-diversified-family-contractor","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/11\/turnover-rises-at-diversified-family-contractor\/","title":{"rendered":"Turnover rises at diversified family contractor"},"content":{"rendered":"<div id=\"wrapper_sleeve\">\n<p><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"414\" src=\"https:\/\/emap-romulus-prod.s3.eu-west-1.amazonaws.com\/wp-content\/uploads\/sites\/8\/2023\/10\/Project-report_Sisk_NE02_03_1.jpg\"   alt=\"Project-report_Sisk_NE02_03_1.jpg\"><\/p>\n<p>The NE02\/NE03 scheme is being built on a former car park and office site<\/p>\n<div>\n<p>Profit at Munnelly Group has inched upwards despite a 24 per cent increase in turnover.<\/p>\n<p>Revenue for the year to 31 March 2024 rose from \u00a3119m to \u00a3147.2m, according to the family-owned contractor\u2019s latest annual accounts. Chief executive Phil Munnelly said the revenue growth reflected an \u201cunwavering commitment\u201d to low-risk, sustainable and diversified revenue streams in construction and infrastructure support services.<\/p>\n<p>However, pre-tax profit remained relatively static at \u00a31.5m compared with \u00a31.4m the previous year.<\/p>\n<p>The contractor\u2019s cash reserves reached \u00a35.4m as of March 2024, \u201creflecting the strength of our business model\u201d, Munnelly said.<\/p>\n<p>Overheads rose by just 4 per cent despite an \u00a38.7m increase in the company\u2019s annual wage bill as monthly average headcount grew from 660 to 838 staff.<\/p>\n<p>Munnelly said his family\u2019s firm remains focused on \u201coperational excellence but only in markets where we can thrive and create lasting value\u201d.<\/p>\n<p>These markets include residential construction, for instance, with involvement as a subcontractor in <a href=\"https:\/\/www.constructionnews.co.uk\/project-reports\/suburban-heights-sisks-ne02-03-wembley-park-scheme-31-10-2023\/\">John Sisk\u2019s NE02\/NE03 development<\/a> (pictured) at Wembley Park, north west London.<\/p>\n<p>The firm reduced its short-term bank loan debt from \u00a3233,000 to \u00a3198,000. It also owed \u00a31.1m in loans repayable after 12 months, down from \u00a31.3m the year before.<\/p>\n<p>A dividend of \u00a3717,000 was paid out, lower than the previous year\u2019s \u00a3938,000.<\/p>\n<p>In his strategic report accompanying the accounts, Munnelly emphasised the role of innovation and technology in shaping the company\u2019s future.<\/p>\n<p>\u201cWe have implemented several new systems and tools to automate processes, reduce errors and increase productivity. Our team has also been working on developing new software solutions to enhance our products and services,\u201d he said.<\/p>\n<p>The firm has invested in cybersecurity measures while also improving its data analytics capabilities, Munnelly said.<\/p>\n<p>\u201cBy leveraging data insights, we can make more informed decisions and better understand our customers\u2019 needs. Our analytics team has been working on developing new algorithms and models to help us identify trends and patterns in customer behaviour,\u201d he added.<\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.constructionnews.co.uk\/financial\/turnover-rises-at-diversified-family-contractor-09-01-2025\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Ben Vogel<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The NE02\/NE03 scheme is being built on a former car park and office site Profit at Munnelly Group has inched upwards despite a 24 per cent increase in turnover. Revenue for the year to 31 March 2024 rose from \u00a3119m to \u00a3147.2m, according to the family-owned contractor\u2019s latest annual accounts. Chief executive Phil Munnelly said<\/p>\n","protected":false},"author":1,"featured_media":818928,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22420,110484],"tags":[],"class_list":{"0":"post-818927","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-rises","8":"category-turnover"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/818927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=818927"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/818927\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/818928"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=818927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=818927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=818927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}