M&E firm says turnaround down to series of restructuring initiatives
M&E contractor Lorne Stewart returned to the black in 2025 with the company hailing “a significant turnaround in performance during the financial year”, the firm said in its latest accounts filed at Companies House.
The firm, which shut its loss-making offsite subsidiary last summer, posted a pre-tax profit of £1.6m last year – from a £1.6m loss last time – and saw turnover rise 5% to £107m.
In a note accompanying the accounts, the firm said: “This improvement is primarily attributable to decisive strategic actions implemented by the board, including rationalisation of underperforming regions, tighter cost controls, enhanced project selection and a renewed focus on operational efficiency.”
It added: “As a result, the Company is now on a more sustainable trajectory and barring unforeseen circumstances, is well positioned to maintain its performance in the foreseeable future.”
Lorne Stewart said year-end cash was up 22% to just over £16m.
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