Business

Haulage firm McBurney's new holding company drives sales and profits

The company which Ballymena-based haulage contractor McBurney had a turnover of nearly £93 million last year
The company which Ballymena-based haulage contractor McBurney had a turnover of nearly £93 million last year The company which Ballymena-based haulage contractor McBurney had a turnover of nearly £93 million last year

A NEWLY-created holding company which owns Ballymena-based haulage contractor McBurney and associated transport companies has reported a turnover of nearly £93 million for 2017.

McBurney Holdings Ltd brings together the businesses of the long-established McBurney Transport Group and Bondelivery NI Ltd, and is fronted by septuagenarian Norman McBurney and his wife Lynn.

The holding company was previously known as McBurney Refrigeration, but transferred its trade and assets to the new holding company on January 1 last year.

On the same date it also acquired the entire issued share capital of McBurney Transport Group and Bondelivery, thus becoming an investment holding company.

And figures published at Companies House show that in its first full year turnover shot up to £92.8m, with the gross margins of the combined operations being 10.86 per cent compared to 12.27 per cent for the previous year (which related only to the operations of McBurney Refrigeration).

Profit before tax came in at £3,469,163, while profit transferred to the reserves was £2,760,298. Equity shareholder funds now sit at £39.3 million.

The enlarged company now has 769 staff on its payroll, made up of 661 in production and the remainder in administrative or support roles.

Its total wages bill came in at more than £24.4 million, with three listed directors being paid a combined £209,305.

On taxation, McBurney paid more than £1 million in UK corporation tax last year at a rate of 19.25 per cent.

The Ballymena company's roots go back to 1965, when Norman McBurney started with a single lorry.

Over the past half century it has grown to become a much trusted logistics supplier to many companies across the UK and Ireland.

It boasts a customer base which includes major supermarkets, food and drink manufacturers and distributors, high street retailers and stalwarts in the construction, horticulture and industrial sectors, ranging from multinational blue chip corporations to small indigenous companies.

Despite becoming one of Ireland’s largest independently owned logistics group, McBurney has remained a family-owned and managed business, allowing it to make faster decisions and respond quicker to customers' changing needs.

Company owner Norman McBurney was awarded an OBE five years ago for services to the community through both his haulage business and his association with Ballymena United Football Club, where he has occupied the position of chairman and then president.

Indeed last year he set what is believed to be a new record in British football when he passed 30 years as the club's shirt sponsor.