A modular construction specialist has delivered improved turnover and profits after witnessing a “strong performance” within its key divisions and after a joint venture with Kier.
Co. Antrim-headquartered McAvoy Group reported a significant increase in revenue for the 2023/24 financial year to more than £75 million, with EBITDA growing to £9.3 million.
The business, a provider of temporary and permanent modular buildings, said the result was due to a solid performance by its rental division, as well as a boost in sales for its flexible space solutions.
Key project wins include:
- Appointment to the Defence Infrastructure Organisation’s £2 billion SLA programmatic approach framework via a joint venture with Kier.
- Completing Orsett Heath Academy, in Essex. (McAvoy’s largest project to date).
- A further rental contract with a multi-academy trust in South West England.
- Repeat projects for the Queen Elizabeth Hospital King’s Lynn NHS Foundation Trust.
- A new mental health facility in Yorkshire.
McAvoy, which has been in business for more than 50 years, also has offices in Dublin, Ireland, as well as Birmingham and London in the UK, and a 70,000 sq ft purpose-built manufacturing facility.
Looking ahead, McAvoy plans to drive growth by investing in the expansion of its rental fleet and manufacturing capabilities.
“We are pleased to report a strong performance across the McAvoy Group, which reflects growing demand for our premium solutions in the UK and Ireland,” said Ron Clarke, CEO at McAvoy.
“With the continued support of our shareholders, we are strongly positioned to deliver modern, flexible, and sustainable buildings across the education, healthcare, commercial and pharma sectors.
“We anticipate significant growth in the modular market as demand increases for cost effective sustainable buildings that are flexible, quick to deploy and cost effective.”
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