In the year to 31st March 2021, FM Conway turned over 拢478.1m, up from 拢338.2m the previous year, to reach a new high for the company in its 60th year.
Much of the growth was down to the March 2021 acquisition of Toppesfield, in which FM Conway had had a stake since 2017. Toppesfield brought an addition 拢80m of turnover, but there was still more than 拢60m of organic growth within the continuing business.
Operating profit (before amortisation) was also a record at 拢31.3m.
However, the bottom line saw a fall in profits 鈥� pre-tax profit was down 13% to 拢17.2m (2021: 拢19.8m).
Chief executive Adam Green said: 鈥淭he group responded well to mitigate cost increases, particularly in relation to driver shortages earlier in the year and increased energy costs in the second half鈥� The group is well positioned for continued success.鈥�
However, the year was marked by the death of chairman Michael Conway in March, with his daughter Joanne Conway taking over at the helm of the family business. [See previous report here.]
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