H&J Martin Ltd, the long-established Belfast-based construction company, has reported a return to profitability in its first year of trading since it was acquired by the Lagan Construction Group in April 2015.
In its most recently filed accounts to March 31, 2016, the company reported turnover of £47.6m (2015: £98.5m) and an operating profit of £60,000 (2015: £5.7m loss).
The accounts note that the company’s turnaround is due to the successful implementation of a new strategy to sell non-core assets, reduce turnover and focus on higher margin sectors within its Fit-Out and Asset Management Services divisions.
Post-acquisition, Lagan Construction Group has appointed a new executive team – Managing Director, Jon Adams and Finance Director, Gerard O’Callaghan – to lead the business and expand it geographically out of the Lagan Construction Group’s regional offices in Manchester and Edinburgh.
Speaking after the results announcement, H&J Martin MD, Jon Adams, said, “We have been delighted with the turnaround in the business and with our refocused customer centric model there is a healthy outlook for the company ahead.”
Group Chief Executive, Colin Loughran, added, “Strategically, H&J Martin was a good fit for the Lagan Construction Group of companies and we are pleased how the company has integrated into our wider business.”
H&J Martin’s Construction & Fit-Out division operates throughout the UK and Ireland, offering a comprehensive range of services focusing on the delivery of high quality interior fit-out and specialist restoration services.
H&J Martin recently won a prestigious UK award from Royal Institute of Chartered Surveyors in the Building Conservation category at an awards dinner in London. The award was for work on behalf of the National Trust at Mount Stewart estate, Co. Down.
Judges said the project used “highly innovative” techniques to “repair serious structural defects throughout the property”, adding they were impressed with the “clear collaboration in pioneering the approach of undertaking the works whilst maintaining the building open”.
The company’s Asset Management Services division operates in various markets, with a strong focus on building, mechanical and electrical services, as well as self-delivery of specialist activities such as fire and security systems, heating, ventilation, air conditioning and door and gate automation.
Lagan Construction Group recently received planning permission to extend its Belfast head office to facilitate the relocation of H&J Martin’s Belfast-based employees from their current Ormeau Road site.
For more information on Lagan Construction Group, visit www.laganconstructiongroup.com