Belfast Telegraph

Video: Northern Ireland construction firm behind new Maldron Hotel posts £13.4m profit

By Margaret Canning

Construction firm McAleer and Rushe Contracts UK has reported sales of £334m for 2017 - up from £242.9m a year earlier.

And the Co Tyrone-based company's pre-tax profits were also up from £10m to £13.4m, while staff numbers grew from 271 to 300.

McAleer and Rushe Contracts UK is the design and build company that carries out office construction projects in Britain.

It is part of the wider McAleer and Rushe business.

In a strategic report, directors - including co-founder Seamus McAleer - said the results had been "in line with expectations".

"The company continued to build on the strong platform established in recent years and with the progression of several larger schemes to their latter stages through the year, further turnover growth was delivered," it said.

It added it had 23 projects under way during 2017, including a major office building in Edinburgh in a £47m project, and a student accommodation scheme in Liverpool in a £51m project.

The company was also the developer behind the new Maldron Hotel - owned by the Dalata hotel group - on Brunswick Street in Belfast city centre.

And last week the group announced a £40m contract to deliver a new 330-bedroom hotel in Birmingham for the same group and also has work for a £30m hotel in Glasgow.

Its strategic report added: "The company is close to securing a number of further large-scale contracts with both new and existing clients whilst operating at or close to current project levels.

"This will result in comparable performance in 2018, with potential for turnover growth."

And it said it would again target "minimal staff turnover" during the year.

But it said that in 2017 it had not taken up all opportunities offered "to ensure focus remains on the timely and cost-focused delivery of a manageable workload".

In January McAleer and Rushe Contracts UK announced a £130m deal -its biggest yet - to build more than 500 homes in London.

It was appointed by the Quintain to build the 533 dwellings at Wembley Park as part of the South West Lands development.

Around 20% of the development will be affordable homes, including shared ownership housing. Eamonn Laverty, chief executive of McAleer and Rushe, said at the time: "Marking our largest contract to date, we are delighted to be here today celebrating the signing of the £130m deal for the second phase of South West Lands.

"This is our third contract with Quintain since 2016 and the project cements our partnership with them as a trusted member of their Main Contractors framework."

McAleer and Rushe has already secured work on the first phase of South West Lands, in a deal worth £55m.

Mr Laverty said the London deal cemented the company's position "as one of the leading design and build contractors in the high-end residential and private rented sector".

"We look forward to further involvement in the wider Wembley Park masterplan."

Belfast Telegraph

Daily News Headlines Newsletter

Today's news headlines, directly to your inbox.

From Belfast Telegraph