Business

Strong UK and international performance drives growth for Gilbert-Ash

Gilbert-Ash managing director Ray Hutchinson (right) with Belfast Harbour CEO Roy Adair at the topping out of the four-star AC by Marriott Hotel earlier this year

BELFAST-based construction, refurbishment and fit out contractor Gilbert-Ash has reported a tenfold increase in profits as its sales also spiralled by more than 25 per cent.

The company, which has performed particularly strongly in Britain, where it has won and completed a number of high profile projects, saw its pre-tax profits soar to £1.49m in 2016, up from £168,000 the previous year.

And turnover jumped to £148m, up from £117m the previous year and more than twice the sales it recorded in 2014 (£73m).

“These results demonstrate the strong growth being driven by our continued focus and investment in the GB market and around our chosen markets and capabilities including landmark buildings, arts, culture, science and technology,” managing director Ray Hutchinson said.

“Profitability has increased significantly over the last year and while the market remains highly competitive, our balance sheet remains strong.

"This is due in no small part to the commitment of our team, the high quality of our projects, many of which are iconic, landmark UK buildings and to the excellent collaborative relationships we have developed with clients, partners and suppliers.”

He added: “Gilbert-Ash Fit-Out also continues to perform well internationally with projects completed in 43 countries to date.”

Gilbert-Ash - recently named as ‘the one to watch in 2018’ in the prestigious annual UK Construction News report - employs more than 180 employees in London and Belfast.

It has completed a broad portfolio of successful construction projects across sectors including arts and culture, workplace, hotels and leisure, science and technology, retail and residential, including the £13m refurbishment and extension of the National Army Museum in London, which was officially opened by the Queen in April.

Additional high profile projects completed by Gilbert-Ash include the £22m refurbishment and extension of the Institute of Engineering and Technology building in Savoy Place, London and the Bartlett School of Architecture £20m project at University College London, which was recognised in this year's London Construction Excellence Awards.

Current projects include the £19.5m Mountview Academy of Theatre Arts project, the new £17m headquarters for the Royal College of Pathologists in London as well as the £25m AC by Marriott Hotel in City Quays due to be completed in early 2018 and the £22m student accommodation scheme at Great Patrick Street in Belfast.

The company also continues work with hotel group Whitbread on a number of projects throughout the UK including its next generation, technology enabled Premier Inn hub hotels.

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