McAleer & Rushe’s Construction Arm Reports Rising Turnover And Profits

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The construction arm of the McAleer & Rushe Group has announced a 23% increase in turnover to £108.6m and a 50% increase in pre-tax profits to £6.04m for the year to March 2012.

McAleer & Rushe Limited, a specialist Design & Build contractor with offices in London, Belfast and Cookstown, was set up in 1967. The Company focuses on mixed-use urban construction, specializing in the hotel and office sectors having completed in excess of 12,000 bedrooms for 14 national operators over more than 60 projects and 1.5m sq ft of office accommodation.

Recent highlights have included the handover of the newly built NOVOTEL and IBIS hotels on Blackfriars Road, London (Aug 2012) and the 630 bed flagship Premier Inn, North Terminal, Gatwick some eight weeks ahead of schedule in October 2012. Key current projects include a £46m office led mixed-use development joint venture with British Land in the West End of London due for completion in April 2013, and a boutique five star Hotel on the capital’s fashionable Old Street.

McAleer & Rushe looks forward to the continued expansion of its client base with several projects having gone on site during the current financial year including a hotel contract in Edinburgh and a number of large scale contracts being actively negotiated at present for site starts in early 2013.

Although McAleer & Rushe’s workload is now increasingly focused on mainland UK it retains a strong loyalty to Northern Irish architects, design consultants and sub-contractors and values their partnerships. Its own Northern Irish workforce has increased by 5% over the period.

Group Finance Director, James Higgins commented:

“Despite the continuing challenging market conditions we are pleased to be able to report improved trading performance. We look forward to maintaining our profitability in the current financial year to 31 March 2013 and beyond to March 2014, based on work already under contract. We believe our reputation for delivering the highest quality product, across a broad range of projects and clients, in an economic and timely manner, stands us in very good stead for the future.”

For more information please contact: Robert Gibson at MJ2 on 07748 182234