COOKSTOWN-based screening giant CDE Global is speculating to accumulate after reinvesting a sizeable chunk of its profits into further growing the business.
Its latest accounts show that the company further drove sales last year to £65.8 million - up from £61.9 million in 2017.
The jump comes as the company - ultimately controlled by Tony Convery (58) and his wife Rosemary (55) - successfully targeted new export markets in far-flung regions like sub-Saharan Africa and Latin America.
Profits, however, fell back from £6.4 million to just over £4m.
But during the year CDE purchased the 300,000 sq ft Caterpillar manufacturing site in Monkstown, which it is using to manufacture and paint complex equipment required to build the components necessary for its worldwide sales operations.
The accounts also included a loss of £984,000 on the disposal of its former Ballyreagh site.
It was sold because CDE moved to new centre of excellence which will enable the business to continue to expand its team, providing space for over 400 staff across areas including engineering, product development, and business services.
The centre is the world’s largest campus dedicated to the wet processing of materials in the sand and aggregates, mining, construction and demolition waste recycling, industrial sands and environmental sectors.
When it opened earlier this year, managing director Brendan McGurgan said: “The new offices will provide the CDE team with an environment that matches their excellence, ambition and reputation.
“It's a base we're very proud to bring customers from around the world to visit. Importantly, the new space will support collaboration and team-working, which is crucial to delivering the new ideas, products and innovations that will drive CDE’s future growth.”
Founded in 1992, CDE Global has designed, manufactured and commissioned more wet processing plants than any other company in the world and has delivered more than 1,000 projects.
Its accounts show that staff numbers grew to 307 from 277, pushing the wages bill up from £10.8m to £11.3m.
The directors were paid a combined £1.3m, of which £217,135 was the highest salary.
CDE Global operates across five sectors - sand/aggregates, waste recycling, industrial sands, mining and environmental - and sells its products to more than 30 individual countries, with two thirds of its products being exported outside the UK.
In June group founder and chairman Tony Convery was awarded an MBE by the Queen for services to business.
