Business

Errigal Contracts expands workforce by 50 per cent as revenues rise by a third

Cormac McCloskey, managing director of Errigal Contracts. Picture by Simon Jacobs.
Ryan McAleer

THE Irish construction group, which recently acquired 70 acres in Antrim as part of its post-Brexit strategy, saw revenues rise by one-third last year, according to new accounts published by Companies House.

Errigal Contracts, which is Headquartered just over the border in Killybrone in Co Monaghan, recorded a 32.5 per cent rise in turnover from £71.4 million to £94.7m for its UK and European business in the year ending December 31 2019.

The report shows the group’s workforce expanded by more than 50 per cent in 2019 from 288 to 442.

The company, which has bases in Dungiven, London, Amsterdam and Zurich, is headed by Derry native Cormac McCloskey and his business partner Damien Treanor.

The company’s parent entity, Errigal Contracts Group, is registered in the Republic, but the accounts cover the group’s London domiciled entity and its four European subsidiaries.

The rise in turnover saw pre-tax profits rise 57 per cent to £7.9m last year.

The company’s recent portfolio includes the 62 floor 22 Bishopsgate sky scraper in London’s financial district.

Errigal has also worked on the Aviva Stadium in Dublin and Wembley stadium in London.

Last month it announced an Invest-NI backed move to breathe new life into 30 acres of warehouses on the former Enkalon industrial estate in Antrim, close to The Junction retail park.

The company said the investment is part of a Brexit strategy to make the business more flexible.

Co-founder Cormac McCloskey was recently shortlisted in the industry category of the EY Entrepreneur of the Year 2020 competition.

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Business