The firm reported a 24% increase in annual revenues to £818 million, compared to £658m in 2021. MKM also hailed a 7.3% increase in profits, in line with expectations, to £91m.

A total of twelve additional branches were added during 2022, with nine greenfield branch openings, three branch acquisition and six additional branches opening their doors since the year’s end, bringing the total number to 109.

The report also highlighted organic growth at the firm from both new openings and established branch network. The firm’s headcount also increasd by 14% to 25, 23 at the end of 2022.

Kate Tinsley, CEO of MKM Building Supplies, said: “The 2022 results reflect another strong performance for MKM. This was supported by a dozen new branch openings as we continued to consolidate our position as the UK’s leading independent builders’ merchant. Strong sales resulted from ensuring sector leading product availability, as well as continued investment in staff and training.

“Passing our 100th store opening was a significant milestone and we now have branches from Scotland to Cornwall and Wales to East Anglia. Despite the increased footprint, we firmly remain a local company wherever we operate and are pleased to have made meaningful contributions to the communities we serve, which is at the heart of the way MKM operates.”