Belfast Telegraph

H & J Martin Holdings

H & J Martin Holdings consolidates the trading results for the range of activities in the building industry for that group.

The company expanded significantly in 2004 when annual turnover increased by £20m to reach £57m.

Since then the higher levels of activity have been maintained but with a reduction in 2006 and recovery in 2007.

Operating profits in 2007 were 2.4% of turnover; slightly higher than in the previous year but below the higher figure of 2.8% in 2005.

Net interest receipts have helped to maintain pre-tax profits at slightly higher levels than operating profits.

The most recently registered accounts, to December 2007, reflect the outcome of trading in a more buoyant construction sector before the serious changes in 2008.

This buoyancy was reflected in debtor amounts due on current contracts which rose to over £10.9m at December 2007.

With the increase in commitments as the work load has increased, the company has drawn on internal funds to provide financial support.

As a result there was a net cash outflow in the last three years.

Average employment in the group has risen in the last five years from just over 100 people to an average of 173 in 2007.

The balance sheet value of shareholders funds, including retained post-tax profits, has doubled in the last five years and rose to £10.4m in December 2007 from under £5m at the end of 2002.

Belfast Telegraph