Morgan Marine Limited
Registered name: MORGAN MARINE LIMITED
Part of JMMT Holdings Limited groupMorgan Marine Limited made £21.1m revenue and £1.6m profit in the year to 30 Jun 2025.
Morgan Marine Limited’s revenue grew 2% to £21.1m in the year to 30 Jun 2025, with £1.6m profit and 209 employees. The company is classified under “machining” and is based in Ammanford; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Ammanford, Wales
- Age
- 61 yrs · since 1965
- Type
- Private Limited Company
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 30 Jun 2022 | 30 Jun 2023 | 30 Jun 2024 | 30 Jun 2025 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £14.5m | £17.5m | £20.7m | £21.1m |
| Cost of sales | £11.8m | £13.1m | £14.3m | £13.8m |
| Gross profit | £2.7m | £4.4m | £6.4m | £7.3m |
| Operating profit | £306k | £1.1m | £1.8m | £2m |
| Profit before tax | £306k | £852k | £1.7m | £1.9m |
| Profit after tax | £239k | £664k | £1.3m | £1.6m |
| Profit (best available) | £239k | £664k | £1.3m | £1.6m |
| Staff costs | £4.6m | £5.1m | £6.4m | £6.9m |
| Employees (average) | 176 | 182 | 206 | 209 |
| Ratios | ||||
| Profit margin | 1.7% | 3.8% | 6.2% | 7.6% |
| Gross margin | 18.4% | 25.1% | 30.9% | 34.8% |
| Revenue per employee | £82.4k | £96.2k | £100k | £101k |
| Profit per employee | £1.4k | £3.6k | £6.2k | £7.6k |
| Cash conversion | — | 7% | 117.7% | 94.9% |
| Growth (year on year) | ||||
| Revenue growth | — | ▲20.8% | ▲18.2% | ▲2.1% |
| Profit growth | — | ▲177.2% | ▲93% | ▲24.7% |
| Headcount growth | — | ▲3.4% | ▲13.2% | ▲1.5% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £1.5m | £107k | £1.6m | £1.1m |
| Net assets | £4.5m | £2.2m | £3.5m | £5.1m |
| Fixed assets | £2.1m | £2.1m | £2m | £3.5m |
| Current assets | £6.8m | £5.1m | £7.2m | £7m |
| Debtors | £2.6m | £2.2m | £2.6m | £2.3m |
| Deferred income | £297k | £394k | £1.2m | £704k |
| Cash from operations | — | £75.4k | £2.1m | £1.9m |
| Source | FullAccounts · bulk data Mar 2024 | FullAccounts · bulk data Mar 2024 | FullAccounts · bulk data Mar 2025 | FullAccounts · bulk data Mar 2026 |
How the business works
- Profit margin
- 7.6%
- Profit ÷ revenue.
- Gross margin
- 34.8%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £101k
- Revenue ÷ average employees.
- Profit per employee
- £7.6k
- Profit ÷ average employees.
- Cash conversion
- 94.9%
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 16.5%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 3.3%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 11.1%
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- ▲46%
- Now £5.1m
- Cash at bank
- ▼33%
- Now £1.1m
- Headcount
- ▲1%
- Now 209
- Deferred income
- ▼41%
- Now £704k
- Fixed assets
- ▲78%
- Now £3.5m
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Ownership chain
- JMMT Holdings Limitedultimate parent75–100%
- Morgan Marine Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (6)
- Rhino Engineering Group LimitedRev. £6.7m · Profit £296k
- Bubbles Coinwash LtdFigures not disclosed
- Morgan Electrical Engineering LimitedFigures not disclosed
- Morgan Roadside LimitedFigures not disclosed
- Morgan Steel LimitedFigures not disclosed
- Morgan Training LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
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Sources
Latest figures from FullAccounts for the year to 30 Jun 2025 (profit £1.6m), from the Companies House accounts bulk data published Mar 2026. Spotted an error? Request a correction.
Updated from Companies House on 16 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.