Demolition specialist McGee sees more good times ahead

Grant Prior 8 years ago
Share

Demolition specialist McGee Group is bullish about future prospects after posting improving results for the last financial year.

The firm saw turnover pass the £100m mark for the year to 30 November 2015 as pre tax profit hit £4.7m.

The improvements were driven by McGee’s strategy of focusing on its core expertise in London and South East.

The firm offers pre-construction and enabling works, decontamination and remediation, demolition, asbestos removal, specialist civil engineering and groundworks, piling, haulage, recycling and tipping.

McGee Group Finance Director, Paul Hickey said: “2015 has been a transformational year for the business with turnover breaching the £100 million mark and delivering a robust pre tax profit performance.

“The Group generated £11.1 million cash from operating activities which allowed us to deleverage our balance sheet, repaying all external debt.

“The Group had no bank overdraft at 30th November 2015 with cash in hand increasing to £4.4 million at the year end.

“Based on the outturn to date in 2016 the Group is on track to deliver an even better financial performance in 2016.”

McGee Group Managing Director, Brian McGee said: “The business is equipped to deliver the most complex projects in the industry using our world class civil engineering and demolition expertise.

“McGee offers unrivalled service and efficiency to clients, utilising our own resources across all disciplines, resulting in cost and time savings.

“We have every reason to be optimistic about the future, we expect another year of growth and our pipeline of secured work for the next 18 months is at record levels.”

Latest news

McAlpine healthcare MD joins BAM as Northern chief

Mark Gibson joins as Northern regional director
2 days ago

HS2 Align JV completes Britain’s longest rail bridge – video

Final deck segment sees HS2 viaduct break 137-year old record held by Tay Bridge
2 days ago

Green light for major London city fringe office retrofit

Overhaul of 30 Finsbury Square to start next Summer
2 days ago

John Lewis submits plan for £80m Reading rental flats scheme

Construction hoped to start on 215 flats scheme at the start of 2026
2 days ago

Balfour Beatty lands £27m Highlands flood defence scheme

Work to start imminently building river walls in Comrie
2 days ago

Buyers believe construction has “turned a corner”

Residential rebounds, commercial still strong but civils slows
3 days ago

Vistry unseats Barratt as Britain’s biggest house builder

Partnership homes specialist on track to build 18,000 homes this year
3 days ago

23 jobs axed as Lincolnshire contractor goes under

C G Godfrey provided civils and M&E services in Eastern England
3 days ago

Winvic first to use remote-control tower crane on site

Crane driver sits in ground floor command centre at Birmingham 33-storey tower
3 days ago

Starmer vows to ban Grenfell firms from public contracts

Prime Minister to write to named and shamed construction firms
3 days ago

Grenfell Inquiry calls for uber construction regulator

Shake-up must include licensing of main contractors taking on high rise projects
4 days ago

Robertson to restore historic Newcastle market

Work to revamp Grainger Market to start by the end of this month
3 days ago

Three bidders chase £1.4bn Midlands rail hub alliance

Balfour, Skanska, Bam and Laing O'Rouke in bidding for eight-year rail upgrade
4 days ago

Barratt profit nosedives as margin slumps to 4.2%

Fire safety provisions jump by an extra £126m to total £628m
4 days ago

First viaduct completed on HS2: Video site report

Eiffage, Kier, Ferrovial Construction and Bam Nuttall finish 163m long Highfurlong Brook Viaduct
4 days ago

Bouygues bags £28m Oxfordshire school job

St John’s Academy to be at heart of Wellington Gate Development
4 days ago

Willmott Dixon wins £49m Wigan college expansion

New campus for Wigan & Leigh College to be net zero in operation
4 days ago

Work to start on Liverpool office to flats job

Truman D&B wins resi conversion in Moorfields district
4 days ago

Government mothballs plan to scrap CE Mark

Building safety minister warns there is insufficient capacity in present testing regime
5 days ago

Government backs record number of clean energy projects

131 projects will produce electricity to power 11 million homes.
5 days ago

Tube station housing plan gets Government green light

Plans to transform Cockfosters Tube station were blocked by previous regime
5 days ago

Go-ahead for Bristol Temple Quay hotel and build to rent job

A trio of blocks will house a 230-room hotel, 170-room apart-hotel and 100 rental flats
5 days ago

Construction costs cut for Plymouth city centre revamp

Price of Armada Way scheme falls to £30m after exploratory work on site
5 days ago

Tilbury Douglas chief Paul Gandy to step down

Craig Tatton to take on CEO role from November
6 days ago

Local pressure unblocks £240m Oxford sewage works upgrade

Council warns Thames Water delay is halting building of thousands of new homes
6 days ago

Knights Brown bags last phase of £86m Portsmouth flood defence job

Contractor has already completed second and third phases of North Portsea Coastal Scheme
6 days ago

Bidding starts for £1bn housing decarbonising framework

National housing energy efficiency retrofit deal will come into force in 2015
6 days ago

World’s strongest land-based crane launched

Mammoet crane will help build major energy and infrastructure projects
6 days ago

Big Yellow gets go-ahead for largest London site

Storage giant to build 176,000 sq ft scheme next to Kensington Olympia
6 days ago

Worker dies after being buried by trench collapse

Court hears workers on new build housing site had no training on working within excavations
6 days ago

Contractor services