For the year to 30th June 2021 Premier Modular grew its turnover by 66% to £108.4m (2020: £65.3m) and more than doubled pre-tax profit to £13.7m (2020: £6.2m).
Premier Modular provided buildings for temporary Nightingale hospitals as well as 50 covid testing stations.
It has also benefited from site office demand from the HS2 project.
Managing director David Harris was keen to allay any suggestion that his company had overly benefitted from the pandemic.
He told us: “92% of our rental business is repeat, so the majority of this growth came from all our clients across every sector who trust us to respond quickly, which came into sharp focus during covid.
“The Nightingale and covid testing units we provided last year represent only 3% of our rental modular building fleet. Things had to had to happen at pace and to clinical standards, which is never easy, but our NHS clients agree we did so with a value for money price tag, all things considered. Our factory never lost a day. We operated 24/7 on a war footing, which meant changing our shift pattern and investing heavily in rigorous health and safety processes.
“Far more of our growth came from the regular jobs we do for the NHS and care sector. Then add to those, all our work helping educators overcome their challenges. Infrastructure is an important sector for us, of which HS2 is just one part. So is the blue chip, investment--grade business. Add to all of this, we’re expanding into northern Europe.
“So, much as those numbers look remarkable, they’re more the result of lots of hard work through the years – continual and incremental improvement – rather than the pandemic. The pandemic played its part, but it was more a matter of preparation meeting opportunity.”
In February 2021 the company was acquired by Cabot Square Capitol Fund V.
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