FP McCann profits climb by more than 50%
Building and civil engineering firm FP McCann Group has reported a more than 50% jump in pre-tax profits to reach £19m.
Sales at the Co Londonderry firm, which specialises in pre-cast concrete, soared by 35% to reach £227m in the 12 months to the end of December.
The previous financial year - when sales reached £168.7m - covered an 11-month period.
Employee numbers also increased at the Magherafelt-based firm by 28% to 1,319.
The group carries out building and civil engineering work, including housebuilding, and makes construction products.
It currently works on 12 manufacturing sites in Northern Ireland and England, but has also announced plans to acquire a business in Scotland.
A spokesman for the company said: "People already know FP McCann in Northern Ireland for being a quarrying and civil engineering supplier.
"What goes relatively unknown is just how big a player we are in the UK."
A strategic report filed with the accounts added: "The continual improvement in construction and construction-related demand, including joint venture projects, has had a positive impact on company turnover".
Earlier this month the company announced it was buying a business in Uddingston, Scotland from Laing O'Rourke.
It said at the time: "The Uddingston business is an attractive asset to an organisation such as FP McCann that wishes to grow its manufacturing business in Scotland, supplying a range of suitable products to the market."
In 2015, it bought P Clarke and Sons in Co Fermanagh in a pre-pack administration.
The strategic report said: "The directors believe that the acquisitions undertaken over the last few years have contributed to a well-diversified portfolio of products and services, and our increased geographical spread of opportunities allows us to capitalise on new infrastructure opportunities.
"The directors also believe that continual investment to develop new markets and further increase the skills base within the group will provide for sustained growth in the medium term".
Last year the business restructured its operations, setting up a new group company, FP McCann Group.
The firm said spending on research and development was key to success. "Throughout the 12 manufacturing plants in the UK, we are using the most up-to-date technologies to produce new and innovative products," it added. "In addition to our pre-cast product range, we are continually developing the quality of our surfacing and civil engineering sectors, our ready-mix concrete solutions and the private housing developments on offer."
In September, FP McCann was one of four Northern Ireland companies on the Sunday Times Grant Thornton Top Track 250 league table of the mid-market growth companies with the biggest sales.