Ballymena-headquartered multi-disciplinary construction services group JF & H Dowds has reported record sales and a return to profit for its financial year to the end of March 2024.
Dowds, whose principal activities include mechanical, electrical and specialist construction contracting, grew its turnover to £72.7 million - up 37.4% on the previous year’s figure of £53.1 million. The business also generated a pre-tax profit of £1.5m.
And the company’s working capital position and liquidity remains strong, with cash in the bank of £6.6m - more than three times the 2023 figure of £2.1m.
The directors attributed the strong performance to increasing operational efficiencies and focusing on an enhanced end-to-end supply chain to mitigate cost increases.
Managing director James Dowds said: “These figures show a return to steady growth and profitability after previous years where results were constrained by Covid, a war in Europe, inflationary pressures, and high interest rates, all of which impacted on our operations and slowed both private and public sector investment in the construction sector.
“But we believe we are now seeing the rewards of having a wide service offering for our customers across the UK and Ireland.”
He said the directors were optimistic for the future with a multi-million-pound confirmed order book and pipeline for the next 18 months and line of sight further into 2026 and beyond.
He added: “A key strategic goal for the company is to keep people at the centre of what we do. In the past two years, the company has invested in new offices to ensure our teams can work collaboratively and efficiently in a creative working environment.
“The company invested in a new headquarters in Ballymena with occupation taken up in August 2023. It’s the hub for our Ireland and the rest of Great Britain operations.
“For London and the south east of England, we purchased premises in Kings Cross in London, which has helped establish the company as a key player in the market there.”
In the past year, JF & H Dowds Ltd has completed a number of high-profile projects including the Victoria & Albert Museum East Storehouse; London South Bank Technical College in Nine Elms; and the Alliance Healthcare Medical Diagnostic Imaging Centre in Belfast
The company - which has a 200-strong payroll - secured a place on the £545m Pagabo National Framework for Mechanical and Electrical Engineering provision, and is current doing ongoing M&E work at Belfast Grand Central Station.
Dowds has also upcoming projects at Almac, Queen Elizabeth Hospital London and with Palm Capital Dublin.