Mac-Group returns to profit after liquidating three companies

Northern Ireland construction firm Mac-Group has reported a return to profit after liquidating three companies. 

Three subsidiary companies within the group have gone into liquidation since the last accounts were filed, resulting in a net gain for the business. 

They were Mac-Exteriors Limited on 26 June 2023 and Mac-Interiors (London) Limited and Mac-Interiors Limited both happening post year end in 2023.  

The wider group has retained ownership of three other companies: Mac Contracts (UK) Limited, Mac-Belgium SRO, and Mac-Rockfield Holdings Limited.  

“Post year end, Mac Contracts (UK) Limited has been restructured to operate as a standalone entity but wholly supported by Mac-Group Holdings Limited through association of common ownership,” said the group. 

Adding: “Mac-Rockfield Holdings Limited disposed of its subsidiary company […] obtaining a net benefit of circa €500,000. Mac-Belgium SRO continues as an operating entity.” 

Turnover for the year ended 30 June 2023 was £78.3 million, down from the £127.3 million achieved in the previous financial period, generating a pre-tax profit of £10.3 million (FY2022: £19.6 million loss).    

The Newry-headquartered contractor, whose primary activities are that of construction and project management in the commercial buildings sector, generated an improved operating loss last year of £4.3 million, up on the prior financial year (£11.6 million loss). 

At 30 June last year the company declared net liabilities and total equity of £4,803 (FY2022: £217). 

Mac-Group posted profit for the year of £10.3 million, a dramatic recovery from the £17.3 million loss recorded in the prior trading period. 

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