Expense inflation presses McLaughlin & Harvey to a loss
For the year ended 30th June 2023 McLaughlin & & Harvey turned over ₤ 737m and made a pre-tax loss of ₤ 8.6 m.
The operating loss was ₤ 8.0 m.
The yearly report sets out the factors: "The directors are dissatisfied with the efficiency of the group throughout the fiscal year however accept that the market as an entire continues to deal with unpredictable trading conditions affected by the remaining effect of covid hold-ups. Geopolitical turbulence on costs and schedule within the supply chain and labour lacks experienced in the UK.
"The directors identify the monetary efficiency is dissatisfy. The group has actually seen the advantage of the variety within its core operations throughout the year. While the building company saw record yearly turnover levels as it serviced a pipeline of l...