SPECIALIST interior fit-out Mivan has recorded significant growth in its 2018 financial year, latest accounts reveal.
The Antrim based company, which operates both land and marine divisions, increased its turnover to £29 million while pre-tax profit increased to £3.2 million.
Mivan, established in 1975, significantly increased turnover in its land division with fitout out in the high end residential, luxury hotel and commercial sectors, particularly delivering prestigious projects in central London; and in the marine division delivering work for major cruise line corporations and yacht builders across the world.
Mivan was acquired from administration by the McConville family (MJM Group) in 2014. Since then the family has added to the senior management team and strengthened the business capability, with a key objective being to reposition it as a global leader in the interior fitout market.
Last year the business put significant focus on delivering major projects for global clients with particular emphasis on brand building.
Mivan managing director John Cunningham said: “Our 2018 success demonstrates the power of a strong brand and quality work. We used the last few years to quietly refocus on our brand; on our reputation for quality; and to deliver a really positive set of results for 2018.
“We created more than 40 new jobs in 2018 to bring our workforce to more than 200 people, and we are on course to hit around £40 million turnover this year, with ambitious growth plans for 2020 and beyond.”
He added: “We are very aware of external factors such as Brexit and the issues this is causing in the sector. But we are as prepared as we can be, given the lack of certainty over the course of action.
"We have a clear strategic plan to expand our fitout business outside of central London, with other tactical investment locations on our radar. We also are expanding our reach in the marine industry with some very exciting projects in the pipeline.”
Mr Cunningham added: “We, as a team, have not been successful by chance. It has taken hard work and effort across the business and I commend our team for that work ethic and delivery.
“We work extremely closely with our clients and suppliers and we are confident that as a business, with the right external factors in place, we will have a very exciting future.”
