Belfast Telegraph

Antrim firm Mivan 'ready as it can be for Brexit' as turnover hits £29m

Fit-out company Mivan has said it's as ready as it can be for Brexit as it recorded 70% growth in turnover to £29m and pre-tax profit of £3.2m
Fit-out company Mivan has said it's as ready as it can be for Brexit as it recorded 70% growth in turnover to £29m and pre-tax profit of £3.2m
Margaret Canning

By Margaret Canning

Fit-out company Mivan has said it's as ready as it can be for Brexit as it recorded 70% growth in turnover to £29m and pre-tax profit of £3.2m.

The Antrim company, which is part of the MJM Group, said it had grown turnover in its land division with fit-out work in the high end residential, luxury hotel and commercial sectors.

And in the marine division, it's carried out work for major cruise line corporations and yacht builders across the world.

It's also boosted its workforce to 200 people - an increase of 40.

Turnover for Mivan Marine Ltd in 2018 was up from £16.9m the year before, while pre-tax profits were up from £1m.

Mivan was acquired by the McConville family behind MJM Group in 2014 after going into administration. Earlier this year the company had been linked to a possible takeover of shipyard Harland & Wolff.

New management for Mivan has been hired by the family as part of an aim to return the company to its position as a global leader in interior fit-out.

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Mivan managing director John Cunningham said: "We are pleased with the results for 2018.

"Our success demonstrates the power of a strong brand and quality work. We used the last few years to quietly refocus on our brand, our reputation for quality and to deliver a really positive set of results for 2018. We created more than 40 new jobs in 2018 to bring our workforce to more than 200 people.

"We are on course to hit in the region of £40m turnover in 2019 with ambitious growth plans for 2020 and beyond.

"We are very aware of external factors such as Brexit and the issues this is causing in the sector.

"We, as a business, however, are as prepared as we can be, given the lack of certainty over the course of action.

"We have a clear strategic plan to expand our fit-out business outside of central London, with other tactical investment locations on our radar. We also are expanding our reach in the marine industry with some very exciting projects in the pipeline."

Mr Cunningham added: "We work extremely closely with our clients and suppliers and we are confident that as a business, with the right external factors in place, we will have a very exciting future."

Belfast Telegraph

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