Strong offsite demand sees profit rise for McAvoy

Grant Prior 1 month ago
Share

Offsite manufacturing specialist McAvoy Group Limited has seen profit and turnover rise in its latest accounts as the company marked its 50th year in business.

CEO Ron Clarke is confident about future prospects
CEO Ron Clarke is confident about future prospects

Revenue to £71.5m for the 13-month period to 31 May 2022, compared to £23.8m for the six-month period ending April 2021 as McAvoy generated EBITDA of £6.2m for the same period, compared to £2.4m for the period ending April 2021.

During the reporting period McAvoy unveiled a significant expansion programme that included the launch of a new SmartSpace semi-permanent modular fleet more than doubling the firm’s rental capacity while creating 50 new jobs over the next three years.

CEO, Ron Clarke said: “The group is experiencing robust and continued interest in its proposition, supported by favourable structural tailwinds and the Board, with the continued support of our shareholders, has embarked upon a strategic growth plan which includes the creation of a modern and highly flexible rental fleet.

“Designed and built to enhanced energy and fire protection standards, SmartSpace provides our customers with sustainable space solutions which will allow significant scope for future value creation.

“Whilst recognising that the trading environment will remain challenged by ongoing geopolitical tensions and inflationary cost pressures, we continue to see strong underlying demand for the company’s sustainable building solutions.”

Latest news

Worker killed on £683m waste power plant site

Fatal collision involving heavy good vehicle on giant north London site
21 mins ago

Go-ahead for £200m lithium refinery on Teesside

Work to start next year on Europe's first lithium hydroxide processing plant
14 hours ago

HS2 agency workers paid the wrong wages

Payroll software problems leave workers out of pocket
15 hours ago

Electric car whizz joins O’Rourke

Contractor looking to learn tech lessons from other sectors
14 hours ago

Electrical contractors still confident despite staff shortages

Order books healthy but worries grow over margins
12 hours ago

BAM to deliver £44m Yeovil College campus build

BAM will submit a planning application next month to start work later next year
16 hours ago

Bouygues starts London 700-home council estate rebuild

Developer Linkcity seals financial close on Old Kent Road Tustin Estate job
15 hours ago

Construction’s “Leading Lights” recognised

Full details of latest winners of Considerate Constructor Scheme's latest awards
15 hours ago

ISG wins £600m Hertfordshire Hollywood film studio job

Holywood studio Sunset awards pre-construction contract for 90-acre studio complex in Broxbourne
4 days ago

NAO calls for road programme cuts as costs soar

Public spending watchdog calls for roads programme review amid project delays and cost overruns
4 days ago

Kier hires Laing O’Rourke veteran for London office push

Gus Wright takes up new London regional director role in January
4 days ago

VolkerFitzpatrick lands starring role on £174m film studios

Contractor to start main works on Eastbrook Studios in Dagenham
4 days ago

Wates poaches Balfour director to lead North West operation

Sarah Cooke to lead Wates Construction in the North West
4 days ago

£3.4bn Sellafield infrastructure race delayed to New Year

Contest to start in January for four partners in infrastructure delivery shake-up
4 days ago

Rebuilt TBM launches into second HS2 tunnel drive

Balfour Beatty Vinci TBM Dorothy starts second Long Itchingwood HS2 drive
5 days ago

Materials lead times back to pre-pandemic levels

Pinch points around gas boilers to persist until mid-2023 because of shortages of semiconductors
5 days ago

Bond strength helps TClarke towards £500m turnover target

Building services giant predicting a record year in 2023
5 days ago

All-clear for £125m Guildford Debenhams redevelopment

Native Land's St. Mary’s Wharf will comprise 185 homes
5 days ago

Thompsons brings down historic Redcar blast furnace – video

Redcar demolition clears the way for new net zero future
5 days ago

Wolverhampton picks McLaughlin & Harvey for £50m learning campus

Main construction to start next spring on City Learning Quarter
5 days ago

Michelmersh buys offsite brick cladding and chimney maker

Pre-built brick products producer Fabspeed sold for over £6m
5 days ago

Pagabo acquires mental health monitoring business

Framework giant makes move after Moodbeam goes into liquidation
5 days ago

Green light for London timber office block

Construction to start next year on six-storey cross-laminated timber block
6 days ago

Government pushes ahead with £3bn building safety levy plan

Affordable homes projects and small schemes developed by SMEs will be exempted
6 days ago

Rejigged £340m Museum of London plan approved

McAlpine tipped to take £340m job for new museum at Smithfield market
6 days ago

Ex-construction minister joins cladding repair firm

Intelligent FS appoints Lord Richard Harrington after government contracts send turnover surging
6 days ago

Willmott Dixon limbers up for £18m Rainham sports centre

Work to start in April on New Splashes Sports Centre in Rainham
6 days ago

Plans in for BBC’s new home in Birmingham

Project will be one of the first net zero carbon in construction office buildings
6 days ago

McLaughlin & Harvey wins Lowestoft harbour design

Lowestoft Eastern Energy Facility is expected to cost around £25m to build
7 days ago

Van Elle first-half revenue hits record £81m

Piling specialist upgrades full-year profit forecast after strong first-half trading
7 days ago

Contractor services