Accounts published by McAleer & Rushe Contracts UK Ltd for the year to 31st December 2023 show turnover up 8% to 拢436.4m, up from 拢404.3m in 2022.
Due to an increase in the cost of sales during the year, operating profit in 2023 was down 24% to 拢8.7m (2022: 拢11.6m) while pre-tax profit was 拢11.0m (2022: 拢12.1m).
Shareholders took out a dividend of 拢6m (2022: 拢7m).
Finance director Eamon Higgins revealed in the annual report that, building on contracts secured in 2023, turnover is expected to reach 拢450m this year and 拢500m in 2025.
Contracts completed in 2023 included the Exchange Square Premier Inn Hotel in Birmingham, a build-to-rent scheme in Brighton for Legal & General and student accommodation schemes in Norwich and Belfast.
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