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MKM boost turnover but profits slip

Independent builders merchant chain MKM Building Supplies saw turnover rise 22% to £130.8m in the year ending September 30 2008, their accounts have revealed.
Gross profits were up 29.7% at £36.8m, although operating profits fell back by 3.8% to £8.8m.

The pre-tax profits were down by nearly a third at £8.9m.

During the latest financial year MKM opened six new branches in Hartlepool, Norwich, Retford, Ripon, Stockton and York, plus one earlier this year, making 33 in total.

The company achieved a stockturn ratio of 7.7% and a return on net assets employed of 63.2%.

MKM was established in 1995 by David Kilburn and Peter Murray, two ex-Harcros directors. Murray has since left the company and the managing director is Bill Acton, with Kilburn as chairman.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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