The Henry Group remains one of Northern Ireland’s largest locally owned and controlled construction businesses, based in Magherafelt.
For the financial year ending in March 2009, the turnover figures, at £102.4m, reflected a further increase of 9%, continuing the general increase in each of the last five years. Against the background of the overall fall in construction industry activity, this firm managed to maintain and increase the volume of business.
Employment in the group averaged 545 people which was the highest level achieved in the last five years.
In the report by the directors, the comment is made that ‘the continued success of the business has been achieved by the people working in it’. This is supported by alluding to the continuing contribution of many long-serving employees linked to a relatively low rate of staff turnover.
The group consists of the parent company and six smaller trading subsidiaries.
The subsidiaries include F.B.McKee and Henry Brothers, as well as Rollformed Fabrications and Windell Ltd, registered in Northern Ireland, and BSF Ltd registered in England.
Operating profits in 2008-9, at £1.8m, remained at about the same level as in 2007-8. Pre-tax profits at £2.5m were larger than operating profits because of an increased contribution from net interest receipts. Pre-tax profits were 31% higher than a year earlier.
Repeating the pattern of the previous years, after payment of company taxation, the remaining post-tax profits of £1.7m, were added to the company reserves and carried forward in the value of shareholders funds in the balance sheet.