M&E contractor sees profit from ongoing business jump nearly one fifth

M&E contractor Briggs & Forrester said its order book at its last year-end hit a record £511m.

The Northampton-based firm said the figure was up 17% on last time and was made up of £221m of secured orders and a further £290m of contracts in the final stages of negotiation.

It said turnover from continuing operations was down 3% to £240m in the year to last October but pre-tax profit was up 19% to £4.3m.

briggs

Briggs & Forrester’s order book hit a record £511m at its year-end

In a note accompanying its accounts, the firm said: “This uplift was driven by a marked improvement in profit margins, as projects secured through more favourable procurement routes were delivered from a leaner and more efficient cost base.” Year-end cash was up 6% to £23m.

At the end of the 2024, the firm sold its Building Services Maintenance (BSM) business to Canadian FM firm BGIS for a £5.5m profit.

The firm’s statutory results, which include this profit and £1.7m of BSM income, show revenue was down 11% to £242m with pre-tax profit more than doubling from £4.6m to £9.7m.

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