Pre-tax profits have increased by almost 50 per cent at Dungannon-based The McAvoy Group after the offsite construction specialist benefitted from operational efficiencies and turnover growth during a record year.
In the year to 31 October 2017, the business made a pre-tax profit of £4.3m, up from £2.3m in the previous 12 months, on turnover which climbed from £57.5m to £59.8m.
Directors of the company were said to believe growth in profitability was a direct result of investment in workforce development to ensure the selection of suitable projects alongside enhanced project delivery and cost control.
Eugene Lynch, managing director of The McAvoy Group, said: "These record results in both revenues and profit are testament to the talent and hard work of our teams across the business.
"We are now looking to build on the success of the past year and our market-leading work in the education buildings sector with diversification into offsite construction for infrastructure, residential and healthcare projects.
"There is still a clear need for transformation across the construction industry to make it more efficient, faster, more sustainable and to apply better use of technological advancements such as digital construction. Our offsite solutions are helping building customers to address these challenges."
The business is on track to achieve its target of £100m turnover by 2020 and its £10m investment programme is now well underway.
Original link - Insider Media
Profits up in Record Year For Offsite Construction Specialist
14th June, 2018
