The London and south east focused group achieved modest growth in revenue and profit despite project delays setting back the concrete business.
Pre-tax profit at Byrne rose to £6.4m from £5m in the year to June 2022 as revenue edged up 7% to £153m.
Byrne Bros, the reinforced concrete sub and superstructure specialist, saw turnover fall due to ‘exceptionally challenging’ trading conditions.
The ongoing effects of the pandemic and rapidly rising cost inflation caused serious delays to project starts.
This saw revenue fall by over a third to £73m, generating an operating profit slightly down at £4.7m on the previous year.
Ellmer Construction bounced back with revenue up to £80m from £23m, but margins remain under significant pressure due to rampant inflation causing operation profit to fall to £1.4m from £1.7m previously.
Chief executive Micahel Byrne said: “In the year ahead, we anticipate continued strong profitability supported by a secure order book and a good pipeline of further opportunities.”
Byrne Bros has diversified its client base and is completing superstructure works at Googles Headquarters, projects for the Atomic Weapons Establishment, and two residential projects at Wembley Park.
It also has ongoing contracts for the Area Central SCS JV and BBV on HS2.
Year-end cash at bank for the group increased by over half to almost £50m.
Just two weeks after the close of the financial year, Byrne acquired the assets of collapsed O’Keefe group for £7.9m from administrators.