In the year to 30th June 2024 McLaughlin & Harvey Holdings Limited turned over £870.4m and made a profit before tax of £12m.
In the previous year it had made a loss of £8.6m on £737m turnover. The 2023 result had been impacted by inflation sapping margins on fixed price contracts. It has not been caught out that way again.
McLaughlin & Harvey is privately owned by the Cheevers family in Northern Ireland. Its principal activities are building and civil engineering contracting, property development, the operation of landfill sites and wholesale distribution. It had 872 direct employees in 2024.
The £12m profit for the year includes a £3.4m hit of asset impairment costs, related to the decision to cease landfill operations at the remaining operating landfill site within its Barr Environmental subsidiary. This cost relates to the write-down of the site including one-off closure costs required to wind down the site because of the impending landfill ban in Scotland.
Chief executive Philip Cheevers said: “Our reported results show a return to profitability in the financial year, with all parts of the business contributing positively to performance.
"The business continues to benefit from a diversified portfolio of work in both the private and public sectors across our target industries, with a focus on winning new work via two-stage tender processes and frameworks, whilst developing long-standing client relationships.
"Looking forward, the current construction and civil engineering order book is in a positive position, with the majority of budgeted turnover secured for the financial year ahead.”
McLaughlin & Harvey began its 2025 financial year with net assets of £58.4m and a cash balance of £147m, with no borrowings.
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