TYRONE-based McAvoy Group, one of the north's leading specialists in modern methods of construction, trebled its profits last year and increased its assets base.
And latest financial figures filed at Companies House signal that the modular buildings manufacturer, founded more than 40 years ago by John McAvoy near Coalisland, has finally shaken off the decimating effects of the property crash, which almost wiped it out.
McAvoy, which has manufacturing plants at Dungannon and Lisburn, employs 146 people in the design, manufacture and installation of modular buildings for hospitals, schools and colleges, hotels and commercial offices.
In the 12 months to last October, sales were up more than 9 per cent from £35.5m to £46.5m (though the previous trading period only covered 10 months).
It made a gross profit of £7.1m compared to £5.8m in 2014, and at a bottom-line level, the profit banked soared from £387,175 to £1,044,542.
The group's net assets at the end of its trading year was £4,416,462, which was about £1m more than 2014 when it stood at £3,494,353.
The company said it meets its day-to-day working capital requirements through bank overdraft facilities, and its main provider is Danske Bank, to whom it has a liability of £9.2m - down from £14.5m in October 2014.
McAvoy confirmed that its banking facilities were successfully negotiated last October and will be renewed later this year.
"Based on ongoing informal discussions, it is expected that the bank will continue to support the group under acceptable terms," the directors said in their strategic report to Companies House.
Since 2013 McAvoy Group has been mopping up a number of million pound-plus deals mainly to provide accommodation for schools, mostly in the affluent south east of England.
It is currently building the Lynch Hill Enterprise Academy in Slough in a project worth around £20m.
The latest set of accounts show that the company employs 146 staff (61 in production and 85 in administration) and its total wages bill for the year was £5.9m.
Its directors - who include Northern Ireland's former Businesswoman of the Year Orla Corr (nee McAvoy) - were paid a combined £694,072. The overall package for the highest paid director was £168,799.
