McAleer & Rushe’s revenue breaks £400m barrier

Northern Ireland contractor McAleer & Rushe has seen revenue break the £400m barrier in its latest results. 

The annual accounts for the Cookstown-based McAleer & Rushe Contracts Ltd showed that revenue hit £400.5m for the year to the end of December 2021, up from £290m in 2020.

Operating profit stood at £14.9m, up from £8.4m in the previous year, with profit before tax standing at £15m, almost double the £8.6m in 2020.

The latest results mean that turnover at the contractor is now above pre-pandemic levels, which stood at £340.4m.

McAleer & Rushe’s performance is thanks in part to a string of major project wins, including £600m of work in November 2021 alone. In January, it bagged a £42m student housing scheme in Norwich (pictured). 

The firm predicts that turnover will grow to around £425m in 2022. In its strategic report the contractor stated: “The majority of projects that incurred Covid-related programme impacts were completed in the year or in the early months of 2022. This included the successful handover of three student schemes in August and September 2021.

“The company signed two large residential contracts in 2021, with key repeat clients Taylor Wimpey Central London and Legal & General. These awards reflect increased funder focus on the residential sector during 2021.” 

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