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News » UK » Heron Bros soars in 60th year » published 15 Dec 2017

Heron Bros soars in 60th year

Northern Irish contractor Heron Bros had a bumper year as it celebrated its 60th anniversary last year.

Heron brothers, in the early days Above: Heron brothers, in the early days

Family-owned Heron Bros saw its turnover soar to £94.8m in the year ending 28th February 2017, a 65% rise on the previous year’s turnover of £57.4m.

Operating profit rose similarly to £4.1m, up from £2.6m the year before.

Pre-tax profits, boosted by a one-off sale, reached £12.8m.

Director Damian Heron said:  “A combination of factors including delays to the start of projects in the previous year, selective tendering of a smaller number of larger schemes and a significant increase in property-related contracts gave rise to a significant increase in turnover during the year.

“The board does not expect to maintain this level of turnover in the near future and will consolidate next year in preparation for future expansion.

“Growth will continue to be driven through the existing sectors within which we operate and through the pursuit of niche markets, residential developments, strategic joint ventures and in conjunction with the company’s property division.”

 

MPU

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This article was published on 15 Dec 2017 (last updated on 15 Dec 2017).

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