The Midlands-based housing specialist reported a pre-tax profit of £3.8m for the year to December 2024, up from £2.2m the previous year, despite a 3% dip in turnover to £323m.Operating profit increased by 31% to £5.1m, with strict cost discipline helping to counter softer market volumes. Reports Contract Journal
The order book strengthened by 13% to £504m, underpinned by an improved tender conversion rate of 25.3%. Net assets rose to £52.3m, while cash balances climbed to £25.2m following a refinancing that added £9m in additional liquidity and extended debt maturities by four years.
The newly launched Eastern Counties region was hailed as a “particular success,” generating £17.8m of orders in its first year and on track to deliver £20m in turnover during its first full year of trading.
Chief executive Chris Southgate commented: “Despite continued challenges in the UK housing market, FY24 marked a year of strong financial and operational progress for M&J Evans, driven by disciplined cost control.”
“The launch of our Eastern Counties region has been a particular success, contributing meaningfully to our order book in its first year and validating our focus on driving regional growth. “
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