Below is a snapshot of M Group Services financial highlights:

M Group Services Turnover

Revenue

Revenue

EBITDA

EBITDA

2018 Financial Highlights

Results for the six months to 30 September 2018

21 December 2018

Continued growth in a competitive market

Highlights

  • Group turnover increased by 13%
  • Improvement in operating cash conversion
  • FY18 acquisitions (Meter U, Magdalene and PMP Utilities) integrated and trading well

Commenting on the results, Jim Arnold, CEO, commented:

“We continue to pursue our strategy of providing specialist services to owners and users of essential infrastructure in the UK.  Our results for the period demonstrate the resilient and reliable nature of our markets and the skill and commitment of our people. We have been particularly pleased that clients, new and old, continue to place their trust in our business to deliver services to them.

During the period I was delighted to announce that, PAI, a major European private equity investor, acquired the business alongside the existing senior management. We look forward to working with PAI to continue to expand our service offering through both organic and acquisitive growth in line with our business strategy.”

Performance review

The group has demonstrated good growth in the half year ended 30 September 2018. Turnover and EBITDA have both progressed in line with management’s expectations and the business is well positioned to deliver further growth in the remainder of the year.

A number of new contract wins have ensured the order book remains strong. New framework business with Welsh Water, Wales & West Utilities, Network Rail, Openreach and CityFibre have supported growth in the order book in the period, which in turn will support organic trading growth in the second half of the year and into the future. 

Operating cash flows are satisfactory.  The group’s banking facilities include a £75m Revolving Credit Facility which provides the business with significant liquidity for working capital and further acquisitions. 

The integration of the acquisitions completed in the last twelve months has progressed very well and the businesses are trading in line with or ahead of management expectations pre-acquisition.

2019 Half Year Financial Highlights

M Group Services

Results for the six months to 30 September 2019

20 December 2019

Continued growth in a competitive market

Highlights

  • Group turnover increased by c. 10% to £624 million compared with prior half-year, with improvement in EBITDA margin
  • Significant increase in secured order book following confirmation of contract extensions
  • Previous acquisitions integrated and progressing well
  • Three further acquisitions completed in the half year (Tomato Plant Company, Antagrade and KH Engineering Services) – integration progressing well and trading in line with expectations

Commenting on the results, Jim Arnold, CEO, commented:

“We continue to pursue our strategy of providing specialist services to owners and users of essential infrastructure in the UK and Ireland.  Our results for the period continue to demonstrate the resilient and reliable nature of our markets and the skill and commitment of our people.  We continue to grow organically and through acquisition and see plenty of opportunity to continue to do so.” 

Performance review

The group has demonstrated good growth in the half year ended 30 September 2019.  Turnover and EBITDA have both progressed in line with management’s expectations and the business is well positioned to deliver further growth in the remainder of the year.

A number of contract extensions and new contract wins have ensured the order book remains strong. These include extensions to both the Scottish Water and Southern Water capital delivery frameworks, and an extension to the Anglian Water Alliance framework.  New awards include smart meter installation services for So Energy and Bulb; additional Openreach works covering new and existing areas under the superfast extension programme and full fibre programme; and new fibre installation framework contracts with Virgin Media.  These awards will support organic trading growth in the second half of the year and into the future. 

Operating cash flows remain robust.  The group’s banking facilities include a £75m Revolving Credit Facility which provides the business with significant liquidity for working capital and further acquisitions. 

The integration of the acquisitions completed in the last twelve months has progressed well and the businesses are trading in line with management expectations pre-acquisition.