Turnover grows to £36.8m at Ballymoney-based Dowds Group
BALLYMONEY manufacturer Dowds Group has grown its revenue by almost 10 per cent over the past year to £36.8 million on the back on continued investment.
The firm, which designs and builds mechanical and electrical services within large-scale education, healthcare, industrial and commercial facilities reported a 9 per cent increase in turnover in the year to March 31.
It continues a period of strong annual growth, with a 13 per cent rise recorded in the previous year.
Despite the strong turnover performance, profit before tax fell dramatically over the year from £1.7m to £562,459.
Profit for the year also fell by almost 40 per cent from £1.2m to £745,771.
Over the year average staff numbers grew from 143 to 152, with the annual wage bill rising from £5.5m to £6.5m.
The latest accounts were published on Companies House under the name Dowds Electrical (Holdings) Limited.
In the strategic report accompanying the accounts the directors said they were "satisfied" with the latest financial results in the face of a "challenging market and tough competition".
"The group has capitalised on a policy of targeted bidding, development of framework opportunities and building key strategic relationships," they said.
"The group's increased investment in the group's brand, people and office premises reflects the continued desire to grow a forward-looking attitude."
Founded in 1978 Dowds Group is a national mechanical, electrical and specialist contractor with a diverse range of clients across the UK and Ireland.
In addition to its Ballymoney headquarters the company has Belfast and London offices.
Working alongside main contractor Heron Bros, Dowds Group is currently carrying out the M&E (mechanical and electrical systems) works on the Robinson Leisure Centre in Castlereagh.
The new £20m centre will focus on aquatics with a gala pool and diving provision areas in addition to a gym and sports hall.