Company Snapshot: McAleer and Rushe Group Ltd
The registered results for the McAleer and Rushe Group consolidate the outcome for 10 subsidiary companies making up this group.
This includes six property companies and four individual construction and civil engineering businesses. The Cookstown based group is now among the largest construction businesses in Northern Ireland.
Group statements also reveal a range of transactions with 65 other companies in which the owners of McAleer and Rushe have declared interests. This diverse list includes companies such as the Swiss Centre, Aldergrove Airport Hotel, Clandeboye Developments, Flamewall and Leicester Square Investments.
The trading results for the year to March 2009 show a continuing rise in turnover, year by year. Turnover in 2008-9 rose by £13m and exceeded £100m for the first time. Similarly, operating profits increased and more recently were the equivalent of nearly 9% of turnover.
Pre-tax profits and losses reflected the impact of significant net interest payments and, more recently, deductions for exchange rate losses including £5.4m in 2008-9. The overall results, including exceptional items, meant an operating profit of over £9.1m in 2008-9 converted into a pre-tax loss of £0.8m.
No dividend was paid to the shareholders in this recent year.