CO Tyrone civil engineering and construction firm Geda has reported a pre-tax profit of just under £3 million for Eugene McKenna’s final year in charge of the company.
Well known in both the world of business and the GAA, Mr Kenna stepped down as managing director at the end of last year, with construction director Aaron Hughes taking over the role.
The former GAA all-star spent eight years with Mivan Construction before joining Peadar Quinn at Geda in 1988, shortly after captaining Tyrone in the country’s first ever All-Ireland final in 1986.
Based near Coalisland, Geda initially built its business around civil engineering contracts for NI Water and Roads Service, before increasingly expanding its presence in the private sector as a developer.
The company continued to grow its business in Britain over the past ten years, with a regional base located in Kegworth.
Despite the impact of Covid-19, last year saw the company expand its workforce to 125 and record a pre-tax profit of £2.9m on turnover of £37.9m.
The year was also one of restructuring within the firm, with Geda Construction Company Ltd absorbing the assets and trade of Geda Construction LLP, the limited liability partnership the company used for much of its business in recent years.
In January 2021, the shareholding in Geda Construction Company Ltd was acquired by Geda Holdings Ltd, which is owned by the Tyrone firm’s leadership team of Aaron Hughes, Tania McCartan, John Coalter, Damian Murray and Stuart McFeely.
While the company has acknowledged the impact of the pandemic on the construction sector, it said its order book extends well into 2022, with an eye on the potential created by the demand for housing.
The company said the last of its development projects resumed work just two weeks ago in Monaghan, where it is the main contractor for the IDA Technology building.
The project, which started in December 2019, has been delayed as a result of the restrictions imposed on the industry in the Republic.
