Business

Co Tyrone construction giant McAleer & Rushe doubles profits to £10m in a year

Seamus McAleer, chairman and Eamonn Laverty, chief executive of McAleer and Rushe. The Co Tyron construction firm doubled it's pre-tax profits and increased turnover to £242m last year

CO TYRONE construction giant McAleer and Rushe has doubled its pre-tax profits and increased turnover to £242m in the past year.

The Cookstown-based company, which employs 270 people, has announced strong financial results for 2016, with profit before tax of £10m and turnover rising by 34 per cent from £180m to £242m in 12 months.

One of the UK's largest design and build construction companies McAleer and Rushe, which celebrates 50 years in business this autumn, hope to turnover over £300m in 2017, with recent project starts in Belfast and Dublin, coupled with close to 20 projects across Britain, creating contracted work totalling £500m.

Chairman Seamus McAleer said the company success was very much a team effort.

“Over the last number of years we have taken a targeted and strategic approach to business development and the whole team has contributed to the success we are currently enjoying, in this our 50th year," he said.

Chief executive Eamonn Laverty hopes to build on the success of 2016.

“The quality of our staff and our design and build teams have been pivotal to our success and to the delivery of sustainable growth across the UK and Ireland. With £500m of contracted work at this point and the experienced team we have in place, we are looking forward, with confidence, to further building on these very positive financial results in 2017 and beyond," he added.

McAleer and Rushe focuses on commercial office, residential, student accommodation and turnkey hotel projects across a range of brands.

Its projects include a 476-bedroom student housing scheme of the of the old Metropolitan College building in Belfast city centre to be used by Queen's University.

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