Belfast Telegraph

Construction firm H & J Martin Holdings builds turnover

By John Simpson

H & J Martin Holdings shows the consolidated results for this group of companies which is a major construction contractor and developer operating from headquarters in Belfast.

Against the background of the recession, which has had a large effect on the overall level of construction activity in Northern Ireland, the company has maintained its level of annual turnover.

In the last six reported years, annual turnover has nearly doubled. Following a fall in turnover in 2006, there has been a series of year-on-year increases until the total stabilised in 2012.

Although turnover has been increasing in recent years, operating profits peaked in 2009 and have fallen since. In the recent year, an operating loss was recorded.

A similar trend is evidenced in the changes in pre-tax profits.

The group has incurred losses related to some specific projects in Romania and Azerbaijan. Following a review, the group decided to withdraw from the Eastern European markets to concentrate on its core business.

H&J Martin has co-operated with other businesses in some joint venture projects. Two have involved major health service contracts, one with John Graham in the now completed clinical building at the Royal Victoria Hospital, the other in partnership with Healthcare Technology to provide a new specialist cancer unit at Belfast City Hospital. A third is a joint venture, trading as FMP, where a large partner is specialist contractor, AMEY.

Since December 2012, the Group has disposed of its investment in Partners in Healthcare Technology.

In each recent year the Group has paid dividends to the shareholders costing £65,000. Other post-tax profits (or losses) are retained in the business, so that the balance sheet value of shareholder's funds has risen each year to the end of 2011 when they were £12.7m. At the end of the 2012 year, shareholders' funds fell by 13% to £11.1m.

Employment in the Group has averaged 370 people in the last reported year: a 9% increase.

Belfast Telegraph