Company Snapshot: The McAvoy Group Ltd
The McAvoy Group, headquartered in Dungannon, specialises in the manufacture, hire and sale of mobile buildings.
Business turnover earlier in this decade was averaging about £13m pa. In the years to 2006, turnover increased with an exceptionally buoyant year in 2006 when turnover reached £28m. In the following two years turnover decreased slightly.
In recent years, the business has recorded positive operating profits. In 2008, the ratio of operating profit to turnover, at nearly 8%, was better than the preceding years. Operating profit in 2007 was greatly affected by an exceptional deduction of £462,000.
The financing of the business has been helped through borrowed funds and this resulted in a deduction for net interest charges which, in turn, has resulted in a small pre-tax loss in the two more recent years. The situation in 2008 was affected by a charge of nearly £1.1m, arising from an exchange loss involving funding denominated in a euro-loan.
Employment in the company, averaging 228 people in 2008, has been above 200 in each of the last five years.
After a large capital spending programme in 2004 of nearly £4m, capital spending has recently been more restrained.
The balance sheet value of shareholders funds fell by £500,000 at December 2008. This reflected the impact of post-tax losses, as well as a dividend payment of £0.