HD Construction

Lorne Stewart pulls plug on modular arm as losses mount

M&E specialist Lorne Stewart has shut down its offsite modular arm MDSL after another year of losses pushed the group further into the red. Saudi Arabian-owned parent company LSRM Holdings posted a pre-tax loss of £1.9m for the year to 31 December 2024, as group turnover plunged 16% to £102m. MDSL, which supplied riser modules […]

Lorne Stewart pulls plug on modular arm as losses mount

M&E specialist Lorne Stewart has shut down its offsite modular arm MDSL after another year of losses pushed the group further into the red. Saudi Arabian-owned parent company LSRM Holdings posted a pre-tax loss of £1.9m for the year to 31 December 2024, as group turnover plunged 16% to £102m. MDSL, which supplied riser modules […]

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