Within the 12 months to 31^st December 2022, McAleer & Rushe Building Contracts UK turned over £404.3m (2021: £400.5m) and made a pre-tax revenue of £12.1m (2021: £15.0m).

The working revenue margin softened from 3.7% in 2021 to 2.9% in 2022.

The annual report notes that a lot of goal contracts had been impacted by the political and monetary market occasions within the second half of the 12 months. “This resulted in some dampening of turnover progress in any other case projected for 2023 and past,” writes finance director Eamon Higgins.

Nevertheless, 2023 has appear some stability return to the market, he mentioned.

Turnover for 2023 is projected at £425m, having secured new contracts price £440m within the first half of the 12 months in Larger London, the Midlands and Scotland. Shoppers embrace Greystar, Goodstone Residing and Braeburn Estates.

Managing director Martin Magee mentioned final month forward of the accounts being revealed: “Our robust monetary place and sustained progress over latest years displays our popularity as a dependable and aggressive development accomplice that delivers excellence on each undertaking we undertake for a broad vary of shoppers and funders.

“Particular areas of progress embrace an ever-increasing portfolio of residential developments, the newest additions being two vital schemes in London, price a mixed £228 million, and which can ship new houses in each the prime residential on the market and inexpensive markets.

“It’s the dedication, experience and a focus to element of our groups, supported by our long-standing provide chain which underpins our success and has allowed us to sort out the present and up to date trade headwinds.

It has additionally enabled the corporate to repeatedly look to enhance our supply to shoppers, evolve as a enterprise and search to develop our footprint into new markets resembling co-living, reduce & carve and later dwelling the place we’re seeing an rising degree of enquiries.”

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