Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Builder’s merchant MKM Building Supplies , saw revenue rise by 6.4% for the full year to September 30 2024, on the back of an expanding branch network.
During the year the merchant added 11 branches, eight of them new greenfield operations. Two were added as part of the acquisition of Oceanair; the company also grew its tool hire business, taking its instore offering to 17 branches.
Sales for the year were £986m (2023: £927m), and profits were £77m, down from £88m in 2023, reflecting market conditions during the period and the greater proportion of immature branches.
Kate Tinsley OBE, CEO of M.K.M Building Supplies Limited, said: “MKM had a strong 2024, significantly outperforming the sector and growing revenues, despite a tough market. We added 11 new branches and kept our focus on great customer service and product availability. The market seems to be stabilising with lower interest rates and better consumer spending, leading to more property transactions and mortgage approvals. We’re in a good position to benefit from these positive trends and are excited about the year ahead”.
The company believes it is well positioned to benefit from any improvement in the market, based on continued investment in the business and new branch openings. Ongoing investment consistently supports the business and customer offer, despite short-term market challenges. Branch openings included eight greenfield sites and three acquisitions. This included the acquisition of Oceanair, a specialist distributor of heating, ventilation & air conditioning products, including air source heat pumps, with two branches. The remaining single branch, which was of a local bathroom provider, was purchased to enter a market area.
In February 2025, MKM opened four new branches, The new branches are: MKM Plymouth, on February 3rd, MKM Bridgend, on February 10th, MKM Bangor on February 17th, and MKM Cheltenham on February 24th.
