Walls Construction has successful first year after management buyout
10 May 2016
Walls Construction, an Engineers Ireland CPD accredited employer, has reported a rise in turnover to over €101 million for 2015, which was higher than expected and a rise of 20 per cent year-on-year.
Managing director Eugene O’Shea spoke positively about the management buyout which the company completed last year. He was also upbeat about the forecast for the construction sector overall.
“Construction output is expected to reach €15 billion for the year 2016 and with growth now returning to all sectors, the buyout has positioned Walls to benefit from these new opportunities.
“Given that the company has traded successfully for 66 years and has its pre-downturn management team intact, we look forward to continuing this year-on-year growth through 2016, 2017 and beyond,” he said.
Trading profit in 2015 was €2.255m, which is a six fold increase over the previous year.
“One of the major projects that we started in the last year is the new Central Bank of Ireland headquarters on Dublin’s North Wall Quay. As a company, we retain the capacity to grow to meet the needs of our strong client base and are excited about competing for new projects coming to market, so that we can replace our current flagship projects due for completion over the next 10 months,” said O’Shea.
“Other major projects include the HOB and TASC buildings for the Dublin Airport Authority, the UCC Gateway project in Cork, Beacon South Quarter in Sandyford for IRES and 100 Mount Street for Hardwicke, while fit-out projects recently commenced for Squarespace and other private clients are testament to continued high levels of activity in that sector,” he concluded.http://www.engineersjournal.ie/2016/05/10/walls-construction-has-successful-first-year-after-management-buyout/http://www.engineersjournal.ie/wp-content/uploads/2016/04/aaanews.pnghttp://www.engineersjournal.ie/wp-content/uploads/2016/04/aaanews-300x252.pngNewsconstruction,Dublin,Walls Construction