Turnover jumped 24% to \u00a3151m for the year to 30 November 2024, driven by repeat business and single-source procurement from clients increasingly adopting McGee\u2019s value-led delivery model.<\/p>\n
But the employee-owned group\u2019s operating margin plunged to 6.3% from 13.1% as delayed project starts inflated carry costs for plant, haulage and support services.<\/p>\n
The board described the outcome as \u201csub-optimal\u201d despite comparing favourably with sector peers.<\/p>\n
Seb Fossey, Group Managing Director,<\/strong> said that the focus would now be on consolidating operations at the current scale while targeting value-led profit growth.<\/p>\n He said that McGee continued to invest heavily in self-delivery capacity, expanding its piling and excavator fleets and growing its stock of bespoke shoring and fa\u00e7ade retention systems.<\/p>\n Cash at year end rose to \u00a316m slightly ahead of the prior year.<\/p>\n In the year, McGee distributed \u00a3885,355 (2023: \u00a3619,343) via the employee ownership bonus scheme to around 350 staff, amounting to an average payout of around \u00a32,500.<\/p>\n A \u00a37.5m dividend was paid to the parent company during the year.<\/p>\n<\/p><\/div>\n <\/p>\n