Friday 23 February 2018

Profits rise at Sisk parent company

Ger Penny said the firm was
Ger Penny said the firm was "very pleased" with the results.
Peter Flanagan

Peter Flanagan

Construction firm Sisk believes building work in Ireland is improving, as it increased its annual profit sharply.

For the year to the end of December 2014, Sisk's parent company Sicon Limited said pre-tax profts jumped from €1.5m to €9.1m. The profits came on the back of turnover that increased just over 17pc to €909m.

The company said activity on the island of Ireland increased 6pc year on year. Encouragingly, the company has an "excellent" order book ahead of it. "The UK market remains "solid" with a 26pc increase in turnover, although there are "tighter pricing pressures in the south of England".

Company chief financial officer Ger Penny said the firm was "very pleased" with the results.

"We... increased activity and operating profit levels during 2014 and each of our businesses have responded strongly to challenges posed during the year.

"We are optimistic about the prospects for the Group in 2015 and beyond.

"We are well positioned to make progress in each of the markets we operate in during the coming years. The overall blend of the business is good, with turnover evenly split between Ireland and the UK.

"We have a strong business in Ireland which has secured a number of high profile projects in recent times. We will continue to consider opportunities in the Middle East on a project by project basis," he said.

Irish Independent

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