M Group has smashed through the £3bn turnover mark to become the UK’s fourth biggest contractor after a year of strong growth and acquisitions.
The growth spurt puts the private equity-backed infrastructure services giant behind only Balfour Beatty, Morgan Sindall and Kier in the UK contractor rankings.
Revenue climbed 23% to £3.1bn in the year to 31 March while EBITDA before exceptional items surged 40% to £218m from £156m.
Across the group, EBITDA margin also improved from 6.2% to 7.1%.
More than 100 contract wins and renewals during the year helped swell the forward workload to £10.4bn, with more than 70% of expected FY27 revenue already secured.
Despite the strong trading performance, M Group remained loss-making on paper because of private equity financing costs and large non-cash accounting charges. After these items, the group posted a statutory pre-tax loss of £28m, an improvement on the previous year’s £40m loss.
The results are the first full-year figures since the business consolidated almost 20 legacy brands under the M Group name.
Growth was boosted by the acquisitions of Telent, Cyro Cyber and Aran, extending the firm’s capabilities across digital, data and cyber services alongside its core infrastructure operations.
This drove up staff headcount to around 14,000, working out of more than 300 UK locations.
| M Group turnover by division |
| Division |
2026 £m |
2025 £m |
| Water |
896 |
425 |
| Technology and Communications |
887 |
307 |
| Transport |
671 |
352 |
| Energy |
630 |
295 |
| Total turnover |
3,084 |
1,3789 |
Growth was driven across every division, with Technology & Communications leading the way as revenue surged 190% to £887m following the acquisition of Telent.
Energy and water division turnover more than doubled to £630m, and £896m, respectively.
Chief executive Andrew Findlay said: “This is an exceptionally strong set of results, demonstrating the progress we are making in growing and transforming the business, and delivering for our clients.”
M Group has smashed through the £3bn turnover mark to become the UK’s fourth biggest contractor after a year of strong growth and acquisitions.
The growth spurt puts the private equity-backed infrastructure services giant behind only Balfour Beatty, Morgan Sindall and Kier in the UK contractor rankings.
Revenue climbed 23% to £3.1bn in the year to 31 March while EBITDA before exceptional items surged 40% to £218m from £156m.
Across the group, EBITDA margin also improved from 6.2% to 7.1%.
More than 100 contract wins and renewals during the year helped swell the forward workload to £10.4bn, with more than 70% of expected FY27 revenue already secured.
Despite the strong trading performance, M Group remained loss-making on paper because of private equity financing costs and large non-cash accounting charges. After these items, the group posted a statutory pre-tax loss of £28m, an improvement on the previous year’s £40m loss.
The results are the first full-year figures since the business consolidated almost 20 legacy brands under the M Group name.
Growth was boosted by the acquisitions of Telent, Cyro Cyber and Aran, extending the firm’s capabilities across digital, data and cyber services alongside its core infrastructure operations.
This drove up staff headcount to around 14,000, working out of more than 300 UK locations.
| M Group turnover by division |
| Division |
2026 £m |
2025 £m |
| Water |
896 |
425 |
| Technology and Communications |
887 |
307 |
| Transport |
671 |
352 |
| Energy |
630 |
295 |
| Total turnover |
3,084 |
1,3789 |
Growth was driven across every division, with Technology & Communications leading the way as revenue surged 190% to £887m following the acquisition of Telent.
Energy and water division turnover more than doubled to £630m, and £896m, respectively.
Chief executive Andrew Findlay said: “This is an exceptionally strong set of results, demonstrating the progress we are making in growing and transforming the business, and delivering for our clients.”
