NEWS

Tuesday 10 September 2019

Byrne Group 2019 profits reach £9.2 million

Byrne Group has revealed financial results for the year ending 30 June 2019, which show a consolidated EBITDA of £9.2 million (2018: - £3.4 m) from a turnover for the year of £203 million (2018: £139m).

Michael Byrne, Group Chief Executive, said: “A solid performance during the year demonstrates that our technical skills continue to be in demand from our core client base. Looking ahead, continued profitability is expected, supported by a strong secured order book and the pipeline of opportunities is good."

“As we celebrate our 50th anniversary we remain committed to the principles of engineering excellence and quality. Safety is still a core value, and we were delighted to receive a series of awards that recognise the hard work of every employee to maintain the highest standards of safety."

“We are also proud of our investment in education and training which continues to upskill our people and inspire a new generation, helping to create the workforce the construction industry needs.”

During the year, Byrne Bros. bounced back, achieving turnover of £127 million (2018: £72m) and an EBITDA of £7 million (2018: -£3m).

Byrne Bros.’ secured order book includes a prestigious head office development around King's Cross station, two major schemes in London's Vauxhall area, Damac London One, comprising two towers of 51 and 24 stories, and One Nine Elms, a 56 and 42 storey residential development. Other projects of note are a new academic studio and research building for the Royal College of Arts and our first Energy Recovery Facility in Bedford.

Ellmer Construction had another profitable year with increased turnover of £77 million (2018: £66m) and an EBITDA of £2 million (2018: £1m).

Ellmer's secured order book includes the refurbishment of the Kingsway Hall Hotel in Covent Garden and the development of luxury apartments at Mayfair Park Residences in Mayfair. In addition, Ellmer is working on refurbishing and extending Cityside House in Aldgate, and a super-prime fit-out of penthouses and apartments in Grosvenor Square.

Byrne Bros. celebrating 50th Anniversary

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