JRL Group profit halves despite turnover growth

By Joey Gardiner2023-07-12T12:38:00

John Reddington admits ‘difficult year’ as 2022 profit hits lowest level since 2015

Profit at JRL Group fell more than 50% to the lowest level it has seen for eight years after a “difficult year” in 2022, according to accounts for the main contractor and specialist builder.

JRL Group, which is the group entity for both groundworks and concrete frame specialist J Reddington and main contractor Midguard, reported pre-tax profit of £13.3m for the 2022 calendar year, just under half the £26.8m reported in 2021, despite sharply rising revenue.

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