Jul 25, 2023
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Finance in the Quarrying Industry

Jul 25, 2023
CFO Network Articles
CFO Articles

Finance in the Quarrying Industry

Today there are over 220 active quarries in the UK. The quarrying industry in Yorkshire and the East Midlands has witnessed significant growth in recent years. The region's rich mineral resources, including limestone, sand, and gravel, attract industry players. Proximity to major construction projects and efficient transportation networks ensures smooth supply chain management.

Collaboration between local quarrying companies and construction firms has further bolstered growth.

The number of residential and government infrastructure projects contributed to strong industry revenue growth for the past five years. The construction sector has benefited from significant investment in new projects, which has boosted demand for primary aggregates.

This has been reflected in employee numbers with huge growth seen in the sector during the last 2 years. Overall headcounts have increased by:

Aggregate Industries 18%

Longcliffe Quarries 14%

Midland Quarry Products 22%

Marshalls Plc 6%

This is reflective of the longstanding growth of the industry since 2009 as shown by Office for National Statistics:

Analysts are predicting a decline in the sector through 2023 as it is largely determined by the level of construction activity.  

Projects and driving efficiencies with strong financial controls become more important in a challenging sector. Our recent interview with Lisa Newbold at LKAB Minerals in Derby explores her career to date and a recent project where she centralised LKAB’s finance function.

Our team at Pratap Partnership specialise in benchmarking, planning, and executing successful recruitment processes for finance professionals from management to executive level, interim and permanent, part-time and full-time.

We have a large knowledge bank to build on and our network of candidates is vast and largely populated with very close relationships.

If you are considering your financial infrastructure over the coming months, please drop me a note. It would be good to arrange a time to speak and find out more about you.

Nik Pratap
Lorraine Pratap
Elise Walsh
Gillian McBride
Nicola Worrow
Amanda O’Neill
Karen Caswell
Dale Spink
Charlotte Morgan-Smith
Gemma Hutchinson
Jess Lister
Alex Mostyn-Jones
Alex Mostyn-Jones
Claire Screeton
Claire Screeton
Euan Begbie
Euan Begbie
Marie Carroll
Marie Carroll
Lucy Miles
Nicola Beach
Leighton Thomas

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