DUNGANNON-based Mallaghan Holdings, whose subsidiary firms are among the world’s leading manufacturers of ground support equipment (GSE) and airport buses, has enjoyed a hugely successful last trading year.
Figures filed at Companies House show that the company - founded in the 1960s by Terry Mallaghan as a civil engineering contractor - almost doubled its sales from £32.9 million to £60.7 million in the 12 months to December.
Gross profit rose by nearly 20 per cent to £11.9 million, and after running costs and taxes the company retained a profit of £1,518,717 - up from £1,333,222 a year earlier.
"The strategic focus of the business continues to be to explore new geographical markets, and this has continued to lead to new opportunities," according to its directors, who are led by Ronan Mallaghan (50) and Niall Mallaghan (53).
"While market conditions remain challenging, we anticipate that the group will be profitable in the next financial year."
Post year-end the company has also undertaken some restructuring in its manufacturing activities, with a greater focus on the manufacture of ground support equipment along with airport buses.
Mallaghan products, which are sold in more than 100 countries, include airport buses, fire rescue stairs, catering trucks, de-icers, passenger stairs and maintenance platform lifts.
Its clients include Aer Lingus, British Airways, China Eastern Airlines, Delta, easyJet, Emirates, Etihad, Menzies Aviation, Qantas, Qatar Airways, Ryanair, SAS and Swissport.
The company added close to 50 new production staff to its payroll last year in response to sustained customer demand across its expansive product range.
Employee numbers increased from 246 to 293, which in turn saw Mallaghan's wages bill increase to £12m from £9.3m.
Directors were paid a total of £811,349 (up from £609,8590), with the highest paid of them enjoying an overall benefits package of £214,507 (up from £145,510).
Mallaghan is seen as a pioneer of sector-wide transformation, delivering modern sustainable products to major airlines and airports across the world as the aviation industry makes significant progress towards a net zero future.
It continues to invest heavily in research and development in line with its focus on promoting sustainability, with the aim of assisting its airline and airport partners to achieve industry-wide environmental targets.
Indeed several of Mallaghan’s core products now form part of its electric-powered range, and the company has ambitious plans to develop a fully electric portfolio by 2025.
