Company Report: McAvoy Group
The McAvoy Group specialises in the construction of permanent off-site modular buildings and the hire and sale of modular portable buildings. The group has its registered offices in Dungannon.
Some of the main shareholders are in the McAvoy family. Orla Corr is the senior director and exercises an active role in the management of the group. Two new directors were appointed last year.
Each year since 2009, annual turnover has increased. It reached a new high just short of £60m in the most recent year. The continuing increase is attributed to the marketing strategies adopted by the group, which have facilitated a significant and continuing growth in the business and, consequently, in shareholder value.
Gross profit margins in 2017 increased to 19% compared to just under 18% a year earlier. Operating profit, meanwhile, also reached a new high at £4.6m.
A fall in the outstanding level of borrowed funds resulted in a reduction of over £0.2m in interest charges and helped to further improve the level of pre-tax profits.
Employment in the group has also increased. Average employment in 2017 was 196 people. In 2011 only 119 people were working for the firm. Since then the numbers have continued to increase.
Seven subsidiary companies are owned by the group. However, some are dormant and two registered in Swords are trading actively.
Over recent years, the balance sheet value of shareholders' funds has steadily increased, largely influenced by the retention of post-tax profits. In 2017 the group made a dividend payment to shareholders of £330,000.