Demolition specialist McGee sees more good times ahead

Demolition specialist McGee sees more good times ahead

Demolition specialist McGee Group is bullish about future prospects after posting improving results for the last financial year.

The firm saw turnover pass the £100m mark for the year to 30 November 2015 as pre tax profit hit £4.7m.

The improvements were driven by McGee’s strategy of focusing on its core expertise in London and South East.

The firm offers pre-construction and enabling works, decontamination and remediation, demolition, asbestos removal, specialist civil engineering and groundworks, piling, haulage, recycling and tipping.

McGee Group Finance Director, Paul Hickey said: “2015 has been a transformational year for the business with turnover breaching the £100 million mark and delivering a robust pre tax profit performance.

“The Group generated £11.1 million cash from operating activities which allowed us to deleverage our balance sheet, repaying all external debt.

“The Group had no bank overdraft at 30th November 2015 with cash in hand increasing to £4.4 million at the year end.

“Based on the outturn to date in 2016 the Group is on track to deliver an even better financial performance in 2016.”

McGee Group Managing Director, Brian McGee said: “The business is equipped to deliver the most complex projects in the industry using our world class civil engineering and demolition expertise.

“McGee offers unrivalled service and efficiency to clients, utilising our own resources across all disciplines, resulting in cost and time savings.

“We have every reason to be optimistic about the future, we expect another year of growth and our pipeline of secured work for the next 18 months is at record levels.”

The Construction Enquirer,Grant Prior, 10th June 2016