Construction firm McAleer & Rushe expects turnover to rise
A firm from CoTyrone which specialises in high-end hotel projects says it will increase turnover to £88.2m from £62m.
Design and build contractor McAleer & Rushe said that accounts soon to be filed by the construction arm of the company for the year to March 31, 2011 will show £3.2m was made in operating profits - after making a loss the previous year - and a 15% increase in staffing levels as a direct result.
The firm adds that it is on track to deliver turnover of more than £105m in the current financial year to March 2012 with comparable levels projected for the year to March 2013.
McAleer & Rushe, which is owned by Seamus McAleer and Eamonn Laverty, was formed in 1969 and employs over 100 people.
The company has offices in Cookstown, Belfast and London and it has worked on high-profile contracts including the UK's first ALOFT hotel at the Olympic venue, the Excel Exhibition Centre in London's Docklands, the W Hotel in Leicester Square and a Premier Inn at Heathrow.
Current projects include a £46m office, retail and residential complex in London's West End and three more Premier Inns.
Group finance director James Higgins said: "Despite challenging market conditions, we are proud to demonstrate our improved trading performance and look forward to maintaining our current growth across a broad range of projects and clients."