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Wed June 29 2022

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McAleer & Rushe turnover hits £400m

26 May Cookstown-based design & build contractor McAleer & Rushe rebounded in 2021 with financial result not only ahead of Covid-impacted 2020 but also ahead of 2019.

Chief executive Eamonn Laverty & Seamus McAleer, founder & chairman
Chief executive Eamonn Laverty & Seamus McAleer, founder & chairman

Latest accounts for McAleer & Rushe Contracts UK Ltd for the year ended 31st December 2021 show turnover of £400.5m and pre-tax profit of £15.0m.

Turnover was 38% ahead of 2020’s £290.1m and 18% ahead of 2019’s £340.4m.

Pre-tax profit was 72% ahead of 2020’s £8.7m and 9% ahead of 2019’s £13.7m.

The 38% turnover growth was exactly what the directors predicted this time last year, when that they said that despite Covid, they were feeling "very positive." [See our previous report here.]

Finance director Eamon Higgins said that turnover for 2022 is projected at £425m “in line with the controlled growth strategy of the company”.

The company signed two large residential contracts in 2021 with key repeat clients Tayl;or Wimpey Central London and Legal & General. “These awards reflect increased funder focus on residential sector during 2021,” Mr Higgins said.

Dividends of £10m were paid out to the shareholders, chairman Seamus McAleer and chief executive Eamonn Laverty, up from £4m in 2020 and £8m in 2019.

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