Business

Construction giant Turkington confirms major sales spike

Gary McDonald Business Editor

PORTADOWN-based construction firm Turkington Holdings enjoyed a huge spike in its turnover during 2016 in what its directors have described as "satisfactory and encouraging" trading period.

Accounts for Turkington Holdco (NI) company - founded in 1951 and which has grown to become a leading light in the north's construction sector - show overall (group and joint venture) sales soared to £18,650,933 last year from £14,791,002 in the previous 12 months. Turnover for the year included £15.2 million in relation to construction contracts.

Profit before tax came in at just shy of £3m, with the company's bottom line being hit by nearly £264,000 of exceptional items including an impairment for debts that it was unable to recover.

The directors say they consider the results for 2016 to be satisfactory in the current economic climate and added that they are encouraged by the current order book and anticipate an increase in turnover levels in the current year.

Turkington, which has been responsible for a clutch of prestigious developments in both the public and private sectors throughout Northern Ireland and Britain, operates across various sectors of the industry acting as main contractor and developer through its construction division, and also provides specialist sub-contracting and supply expertise through its windows, curtain walling and facilities management divisions.

The figures, published at Companies House, underline the continuing recent renaissance at Turkington, which like almost every major property firm in Northern Ireland had to drastically write-down the value of its assets in the last four years to reflect the impact of the property crash.

Staff numbers at the company were 71 (up eight on the previous year), which pushed the wages bill up from £1.77m to £2.27m.The highest-paid director received £99,945.

The group's financial statements list a significant number of related party transactions and details on its various joint ventures including that with Consul Services Holdings in Magherafelt.

The group's ultimate controlling party is the Turkington Family Trust.

Enjoy reading the Irish News?

Become a subscriber and get full access

Business

Today's horoscope

Horoscope


See a different horoscope: