Jump in bottom line comes despite fall in revenue
Byrne Group improved its annual results for the third year in a row, the firm鈥檚 latest accounts reveal.
The concrete frame specialist, whose businesses also include fit-out firm Ellmer, said pre-tax profit was up 9% to 拢7.4m on turnover down 10% to 拢171m in the year to June.
Its concrete business, Byrne Bros, returned to being its biggest division with revenue of 拢85m, a rise of nearly a quarter on last time, and an improved operating profit of 拢3.4m with the firm adding that an emphasis on teamwork and collaboration 鈥渉ad been pivotal in driving this success鈥�.
The group, which has been owned by South African builder Wilson Bayly Holmes-Ovcon since 2017, said revenue at its fit-out arm Ellmers was down 26% to 拢61m but operating profit nudged up 拢200,000 to 拢2.6m.
Ellmers鈥� ongoing projects include the Google headquarters building at King鈥檚 Cross and high-rise towers at Nine Elms.
Byrne bought civils firm O鈥橩eefe Group out of administration in summer 2022 and said that turnover in its second full year of trading fell a third to 拢29m but that the business, which is working on the North London Heat and Power Project, 鈥渞emained profitable鈥�.
Cash at the bank improved from 拢24m to 拢32m while the firm said Byrne Bros was 鈥渨ell-positioned to continue a steady growth trajectory with continued profitability鈥� adding that a 鈥渇ocus on collaboration and partnership will ensure a continuous improvement as well as a superior experience for our clients鈥�.
The firm added that it has recently appointed Lee Horsley as its new managing director at O鈥橩eefe, joining from Sparta Construction.
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