The McAvoy Group, one of the UK’s leading offsite construction specialists, has announced a record financial year, accomplishing a 10% growth in turnover to £60m.
The business is on track to achieve its target of £100m turnover by 2020 and its £10m investment programme is now well underway.
McAvoy has also announced it is working on over £20m of new projects which consist of office schemes for the Homes and Communities Agency in Northstowe, Cambridgeshire and projects for two pharmaceutical companies. The Group is also progressing new building contracts at Eden Girls School in Walthamstow and King Alfred’s Academy in Wantage, Oxfordshire.
Commenting on the record financial performance this year, Eugene Lynch, Managing Director of The McAvoy Group said:
“We have further strengthened the business in a number of areas – from new board appointments to our skills growth training programme. We have continued to increase staffing levels to support our expansion and are building on our market-leading success in the education buildings sector with diversification into offsite solutions for transport and infrastructure, student accommodation, housing and healthcare projects. These factors have all contributed to a record year in both revenues and profit and are a testament to the hard work of our teams across the business.”
Lynch added: “We wholeheartedly support the Government’s commitment to prioritising the use of offsite manufacturing and modern methods of construction to improve the cost effectiveness, productivity and speed of construction delivery. There is still a clear need for transformation in the construction sector to make it more efficient, faster, more sustainable and to apply better use of technological advancements such as digital construction. Despite numerous calls for change, the construction industry is still fraught with financial instabilities, delays, budget overruns and substandard quality.
“What is very reassuring for our business, our customers, and construction partners, is just how far offsite has come – an example being the award-winning £20m Lynch Hill Enterprise Academy, one of the UK’s largest secondary schools to be built offsite. The early delivery and build quality of this scheme demonstrates how we are already well on the way to meeting the Government’s 2025 targets and we look forward to playing our part in helping the building industry maximise the opportunities for change.”
The Group’s achievements in the last 12 months have included:
- Leading the construction industry with its award-winning use of digital construction technology including BIM and virtual reality
- A significant investment in its IT infrastructure to implement an Enterprise Resource Planning system which integrates project information across multiple business functions including CRM, estimating, finance and manufacturing
- Achieving Investors in People Silver Standard which demonstrates high performance in people management. The business is now working towards IIP Gold and Platinum standards
- Investment in new hire fleet to provide high quality interim buildings in a range of sectors
- Success in achieving places on a number of multi-million pound procurement frameworks.
Original link - PBC today
