Cardiff headquartered MSS Group, who operate environmental, facilities management and compliance contracts across the UK, have filed their year-end accounts, showing record growth in profit and turnover across the group.
For the year ending 31st March 2020, the company returned a gross profit of 34% with a record pre-tax profit of £5.2m, the results were further boosted by an 89% increase in annual turnover on the previous year, from £15 million to £28.5 million. The growth has involved significant client wins across both public and private sectors in Wales, and across the South West of England.
Speaking on the results, Bill Mayne, Chief Executive of MSS Group said:
“We are delighted to have not only achieved, but to have exceeded the objectives set out in last year’s corporate plan. It is very satisfying to report record growth across the board in profit, turnover and margin. These results are a testament to our talented and dedicated teams of people and the strong relationships we have built with our valued customers”.
The diverse business operates a range of services including industrial and commercial cleaning, waste management, asbestos removal, water treatment, security services and more. The group works primarily with large manufacturing companies, major construction companies and public sector bodies, including many blue-chip organisations. This year has seen the group win several important new clients, which has created opportunities for the business across the UK with around 35% of the business now conducted outside of Wales.
MSS continues to strengthen its management team and it has made a number of key appointments both externally and from within. Growing and rewarding staff has been a long-standing commitment by the fast-growing business, which has led to the group winning the Investors in People Gold Award, a status only achieved by the top 7% of accredited businesses.
The importance of a motivated and skilled workforce has been highlighted by the Covid-19 pandemic. Over 95% of MSS staff have been defined as key workers, such is the essential nature of the contracts the group deliver.
Mr. Mayne added:
“All of our group businesses work in highly regulated environments, which has caused us to continually raise the bar in the way we deliver projects and manage risks. Our activities are essential, and with so many of our people being designated key workers, we have been able to increase our staff numbers during a difficult period for many businesses.”
While it has been a strong year for the group in a fiscal capacity, the group continue to place high importance on their impact in the local community and support of charitable organisations. The business supports several local charities and are members of Business in the Community. The company have also set out a commitment to being carbon neutral by March 2021, a target they remain on course to achieve.
Speaking of their work in the community and their future plans for the group, Mr. Mayne concluded:
“We are very optimistic about future profitable growth, particularly in the West of England and along the M4 corridor. This will enable us to continue supporting our clients, staff and the communities in which we work and live.”