Turnover at Belfast-based construction and fit-out firm Gilbert-Ash increased for the fifth year in a row in 2023, although “unprecedented inflation” took a sizeable chunk from the firm’s profit.
And the company says it remains in a “robust financial position” and goes into its current financial year with a significant order book, with several high-profile projects under way this year.
The company has posted record-breaking sales of £267 million for 2023, but profits shrunk from £4.2m the previous year to just £1.5m, in line with expectations as the construction industry continued to contend with significant external pressures, including unprecedented inflation which impacted input costs.
Projects completed by Gilbert-Ash in 2023 include the 2024 Stirling Prize-nominated redevelopment of the National Portrait Gallery, the £39m hub by Premier Inn, Clerkenwell and the £21m Ruby Zoe Hotel in London’s Notting Hill.
Most recently, the company completed the £24m construction of a new multi-purpose performing arts centre and 400-seater theatre at Brighton College, while two major residential schemes in England will handover before the end of the year.
Earlier in the year Gilbert-Ash - which has nearly 200 staff at offices in Belfast and London - won the £31m contract to construct St Paul’s New Junior School in West London. The project involves the construction of two new school buildings.
Also this year, and after an in-depth selection process, Gilbert-Ash (www.gilbert-ash.com) won the £35m contract to construct two new sixth form girls boarding houses at Winchester College in Hampshire, due to open in September 2026.
Gilbert-Ash managing director Ray Hutchinson said he is confident the company can look to the future with optimism, adding: “We are proud of the many significant projects completed and new work secured for this year and the coming years.
“Despite the challenging conditions our people have shown remarkable resilience and have consistently delivered outstanding projects for our clients, something which is evidenced by the National Portrait Gallery’s Stirling Prize nomination. Work continues two other major public buildings at Tate Liverpool and Theatr Clwyd in Wales.”
Gilbert-Ash also continues to significantly invest in its workforce and has recently launched its Make Your Mark campaign seeking not only to celebrate the achievements of its people but also to attract the industry’s best operators to join them.
Mr Hutchinson said: “Working across a broad range of sectors such as arts and culture, workplace, hotels, leisure and education, we have firm plans for growth which is why we want to continue to find the best people to come and work with us.
“The campaign highlights the prestige of the projects you will work on as a Gilbert-Ash employee, we want people who want to grow their careers and challenge themselves by working on buildings which are often enjoyed by millions of people each year.”
