McAleer and Rushe look to turnover of over £300m

Co Tyrone construction firm posts turnover for 2016 of £232m, an increase of 34%

Invest NI’s headquarters in Belfast: one of McAleer and Rushe’s recent construction projects.

Invest NI’s headquarters in Belfast: one of McAleer and Rushe’s recent construction projects.

 

Co Tyrone construction firm McAleer and Rushe, which is developing a 374-bedroom student housing scheme in inner city Dublin, said it expects turnover to surpass £300 million (€356 million) this year.

The news comes as the Cookstown-based company reported a surge in profit and revenues for last year.

Pretax profits at the firm doubled in 2016 to £10 million while turnover rose 34 per cent from £180 million to £232 million.

The company, which is marking its 50th anniversary this year, employs 270 people across offices in Cookstown, Belfast, Dublin and London. It is focused on commercial office, residential, student accommodation and hotel projects.

Recent developments include a £40 million student housing scheme in Summerhill, Dublin 1, and Invest NI’s headquarters in Belfast.

Chief executive Eamonn Laverty said the company has £500 million of contracted work agreed so far this year, with close to 20 projects under way across Ireland and the UK.

“We are looking forward, with confidence, to further building on these very positive financial results in 2017 and beyond,” he said.