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Gilbert-Ash sees profits dip 25%

24 Sep 20 Northern Ireland construction contractor Gilbert-Ash has posted its annual results for 2019, showing a dip in both turnover and profit.

Gilbert-Ash built the new £23m Cambridge mosque in 2019
Gilbert-Ash built the new £23m Cambridge mosque in 2019

Pre-tax profit was down about 25% to £5.7m (2018: £7.7m) on turnover down 9% of £163m (2018: £179m)

Gilbert-Ash managing director Ray Hutchinson writes in the company’s annual report: “Whilst market conditions remain very competitive, the directors are encouraged by the current order book and the future pipeline of opportunities. The company continues to focus on developing business opportunities in Great Britain which should lead to continued growth in the medium term.

“Following the recent outbreak of the Covid-19 pandemic, the directors have considered its potential impact on the company. The directors have modelled a number of different scenarios and are confident that, through continued strong financial management, the company can successfully overcome the challenges presented by Covid-19.”

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