Construction boom boosts turnover for Newry business
The Irish operation of Newry-based mac-group has recorded a 67 percent rise in revenues to £94m for the year to December 31, 2017, with the £38m increase from the previous year driven by a number of high value projects for multi-national clients such as Oracle, Jacobs and EY.
Profits for 2017 were also up significantly, rising to £4.9m from £2.9m a year earlier.
Established in 2002, mac-group is a specialist contractor in the construction, refurbishment and fit-out of commercial office buildings.
It has offices in Newry, Dublin, London and Birmingham and employs a direct workforce of over 130 construction professionals.
Its Northern Irish operation is set to complete a £11m refurbishment of River House in Belfast this May (pictured above).
Speaking to Newry Times, Martin Daly, Group Finance Director, commented, “In the past year our business has undergone a significant evolution offering an expanded service.
“This in turn has supported the creation of 40 new construction roles, including a number of key senior appointments. We identified an opportunity to expand our service offering in Ireland to include new build, general construction and reconditioning of commercial buildings.
“Our business ethos continues to be based on a partnering approach, the success of which is seen by the fact that approximately 90 per cent of the contracts completed in the past 12 months were repeat business. This is also testament to the quality of our delivery.”
“The Group’s existing order book is extremely healthy with a secured pipeline of work for 2018/19 which will help us to grow all aspects of the business, particularly in the UK fit out and construction markets. We are well on our way to achieving our forecast turnover of £175m for 2018,” added Daly.
Paul McKenna, CEO, highlighted the Group’s growing reputation outside of Ireland. “Our London operations undertook a major reorganisation in late 2017. We recruited a new experienced senior management team with the objective of growing market share in the London design and build fit-out sector.
“We also opened a Birmingham office early last year that has successfully delivered numerous projects in 2017 and has a strong order book for 2018 and 2019. To date, we have successfully secured numerous high-value projects which will ensure that 2018 will be one of significant revenue growth and increased market share for the business.
“Traditionally, a small percentage of our work has been in Northern Ireland but we are seeing a real buzz and upturn in confidence in Belfast. We have secured some significant contracts for the next 12 months in the city and we are well positioned to increase our market share.”
“Our senior management, in conjunction with the Leadership Institute from Queen’s University, Belfast, have embarked on an extensive process of evaluation and development over the last several months.
Paul added, “This has allowed us to develop and strengthen our Vision 2020 strategy which will be implemented on a phased basis over the coming years. It is aimed at consolidating our position as one of the leading client-focused main contractors in the UK and Ireland.”
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Posted by Newry Times News
on Mar 15 2018. Filed under Business, Community.
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