Profits almost triple to €20.5m at construction group
Pre-tax profits at Northern Ireland building and engineering group John Graham Holdings last year increased almost three-fold to £17.16m (€20.5m).
Revenues at the Hillsborough-registered group increased from £491m to £507m in the 12 months to the end of March of this year.
Numbers employed by the group last year increased from 1,645 to 1,761.
The directors' report stated that "overall, our group businesses continues to deliver robust performances in a market that shows strong signs of growth with investment in infrastructure a key focus area for both the public and private sector".
John Graham Holdings paid dividends of £9m during the year.
The group's business is split between construction, asset management and investment.
The directors said that in relation to the group's construction business, "our spread of delivery capability across a broad range of sectors, the consolidation of our increased geographical footprint and our continued focus on operational efficiency leave us well positioned to capitalise on opportunities that come our way". The directors also stated that its investment business continued to generate construction and asset management business for the group.
They said that they are well placed to participate in selected private investment opportunities.
The group recorded an operating profit of £16.9m and net interest receivable payments of £243,000 resulted in the pre-tax profit of £17.16m.
Shareholder funds totalled £46.4m.
The group's cash during the year increased sharply, rising from £31.94m to £45.7m.