Heron Bros doubled profit to £11m last year, new accounts show
SOUTH Derry construction group Heron Bros doubled its profit last year to £11 million, new accounts show.
The Draperstown-based operation has reported a significant bounce back from the Covid-19 pandemic, with turnover up by one-third to £114.2m for the year ending August 31 2022.
The £30m year-in-year rise in turnover was enough to counter the £27m increase in costs, while gains on financial assets and other income left the firm with a pre-tax profit of £11m for the year.
The Heron Bros business includes construction, joinery, manufacturing, quarrying, the supply of building materials as well as property development and investment.
The Co Derry business grew to 305 staff in 2022, with its an annual wage bill rising by £0.7m to £12.8m.
In a review of the business, Heron Bros’ directors said the board had successfully identified, evaluated and effectively managed the risks the company faced during the year to August 2022.
The directors said Heron Bros continued to invest significantly in its digital transformation.
They also noted the company had re-entered the renewable energy sector, providing a full suite of renewable energy solutions.
The directors anticipate growth will be driven through its new renewable energy market, as well as consolidating its existing sectors.