Co Antrim manufacturer Creagh Concrete grows turnover by 15 per cent to £80 million
CO ANTRIM manufacturer Creagh Concrete Products has grown its turnover by 15 per cent in the past year, maintaining its status as one of the market leaders in the UK.
The Toomebridge headquartered firm recorded turnover of £80 million last year, an increase of over £10 million on the previous 12 months. Gross profit also grew from £30.8 million to £31.3 million in the figures for the year up to March 31, 2017.
The company accounts show an overall fall in profit before tax by a quarter (25 per cent) from £4.4 million to £3.3 million however, while profit after tax also fell by £1.2 million to just over £3 million in the year.
The reduction in pre-tax profits comes just 12 months after Creagh recorded its most successful year since the downturn of 2008.
In terms of staff Creagh has seen an increase in employment in the past year from 486 to 497.
The additional jobs added more than £1 million to the company's payroll, which jumped from £16.3 million to £17.6 million over 12 months.
The directors said the level of business during the year and the year end financial position have "continued to improve", as the company continues to build on profitability.
Established in 1976 Creagh is one of the largest and most innovative operators in the concrete product arena, having transformed itself from a regional concrete supplier to a national specialist sub-contractor to some of the largest commercial and residential construction companies in the UK.
It is controlled by brothers Gerard , Seamus and Patrick McKeague. In addition to the head office in Toomebridge the firm has bases across the north in Ardboe, Dunloy, Draperstown and Magheraglass, as well as operations in Nottingham, England and Edinburgh in Scotland.
Creagh continues to work on a number of major contracts across the UK, including the £27m scheme to decommission the Dounreay nuclear power station, which will run until 2023. It has also previously completed a range of projects in the residential sector in Aberdeen including a £2m contract to build 77 apartments on behalf of Barratt Homes as well as a £12m contract to build 250 apartments for Dandara.
In the north it has been working on a £3 million flooring project at the new Ulster University campus.