Geda Construction reveals big rise in sales and profits
TYRONE building and civil engineering firm Geda Construction has posted a record-breaking set of accounts, with its turnover and profit both showing significant increases during 2017.
Figures just filed with Companies House in Belfast reveal that the Coalisland company, headed by managing partner Eugene McKenna, enjoyed sales of £35.4 million last year, up from £31.4m in 2016.
While most of the turnover is derived in Northern Ireland and Britain, almost £3 million of Geda's business is done in the eurozone, mostly the Republic.
Gross profit at Geda came in at close to £7.5m, and the retained profit for distribution among its eight key management members was £6,571,801 compared to £6,188,150 a year earlier.
The highest paid of those eight members will receive a total package for the year of £3,427,320 (2016: £2,955,494).
Formed in the 1970s, Geda has been providing a comprehensive range building and civil engineering services to private and public sector clients across the UK and Ireland, specialising in the educational, residential, community and industrial markets as well as water infrastructure, reservoirs and waste-water treatment works.
Projects in which it is currently on site or has recently completed include the construction of 30 housing units at Leyland Road in Ballycastle; 50 social housing dwellings and ancillary site works in Dun Laoghaire; and 37 independent living units including communal areas, library and other external works in Nottingham.
And in May this year Geda was named as lead contractor on a £1.7 million project by Choice Housing to build eight two-bedroom houses and four three-bedroom houses in Newtownabbey.