Belfast-based construction firm Gilbert-Ash reports 50% jump in profits
BELFAST-headquartered construction firm Gilbert-Ash has announced a 50 per cent jump in pre-tax profits on the back of continued growth in local and international markets.
The company, whose local projects include the £21.5m AC Marriott Hotel and a £22m student accommodation scheme at Great Patrick Street in Belfast, saw its profit before tax increase from £1.4 million to £2.1 million in the year to December 31. Meanwhile company turnover grew by 12 per cent from £148m to £165.5m during the same period.
Success at Gilbert-Ash has been boosted by a range of local and international projects across a broad range of sectors including arts and culture, workplace, hotels and leisure, science and technology as well as retail and residential.
This has included several landmark buildings in the UK such as the £19.5m Cambridge Mosque project, the award-winning City of London Freemen's School swimming pool and the £20.5m new build of the renowned Mountview Academy of Theatre Arts.
Further afield the company has built up a strong relationship with the Foreign and Commonwealth Office spanning over 20 years and 43 countries, including work in France, Nepal, Sri Lanka and Hungary last year.
At present the company has a strong portfolio of projects underway, with stand-out projects including the Royal College of Music in London and continued work with hotel group Whitbread in delivering its next generation Premier Inn hub hotels.
Gilbert-Ash managing director, Ray Hutchinson outlined his pleasure at the company's latest financial figures.
“Whilst market conditions remain highly competitive, the results emphasise the continued success of our strategy to focus on our strengths and invest in national and international markets to deliver landmark buildings," he said.
“Gilbert-Ash is an employee owned company which certainly leads to a unique working culture and family environment, and the results are in no small part down to this environment and ‘can do' attitude of our dedicated team.
“We have had the privilege of working with excellent clients, partners and suppliers, and we really do work as one to deliver innovative, bespoke buildings across the landscape.”
Gilbert-Ash employs 174 people across its Belfast and London offices and alongside the strong financial results, was recently awarded the coveted ‘Contractor of the Year' title in the UK Construction News Awards.