Medwyn Holdings, parent company of Enniskillen-founded steel fabricators Brian Hewitt Construction (BHC), saw its sales rise from £128 million to £139.2 million in the year to March 31 while pre-tax profits increased from £14.5m to £22.6m.
The company, owned and operated by husband and wife team Brian and Marjorie Hewitt (its managing director and finance director respectively), produces more than 800 tonnes of structural steel a week for the agricultural, commercial, education, gas and oil, health, industrial and power sectors.
Its clients include Diageo, RBS, Aviva, and Manchester City FC.
Net assets of the group - which was founded by the Hewitts in 1992 - grew from £67.5m to £84.4m, and the group says it has a “strong liquidity position” which is demonstrated by cash reserves of £38.3m, with no bank loans, overdrafts or hire purchase liabilities.
The average number of employees over the trading year was 432 (up slightly on 2023), and its wages bill increased by around £1m to £20.9m.
Meanwhile Banbridge-headquartered construction firm Kane Group, which specialises in electrical and mechanical services, has reported an upturn in sales in the year to March 2024.
The McMullan family-owned business say its revenues jump from £49.1 million to £65.2 million, equivalent to where it was in 2022.
But the costs of sales soared over the year, resulting in the firm’s retained profit slipping back from £1.7m in 2023 to £1.7m this year.
In a strategic report with the results, the directors said that the industry had been plagued with insolvencies throughout the year, and while Kane had avoided being directly affected, its supply chain had been impacted, and the situation “is a concern for all working in construction”.
The workforce at Kane - which also operates from bases in London, Glasgow and Dundalk - shrank during the year from 262 to 241, though its payroll remained largely similar at £11.4m (down from £11.7m).
