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Company Snapshot: The McAvoy Group Ltd

By John Simpson

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.

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