Walls Construction has successful first year after Management Buyout
Walls Construction, one of Ireland’s leading construction companies, which completed an investor backed Management Buyout (MBO) 12 months ago, has reported a rise in turnover to over €101 million for 2015, which was ahead of that projected and a rise of 20% year-on-year.
Commenting on the 2015 accounts, Walls Construction Managing Director Eugene O’Shea is upbeat about the sector and the outlook for Walls Construction.
Of the construction sector in Ireland, O’Shea said, “Construction output is expected to reach €15 billion for the year 2016 and with growth now returning to all sectors, the MBO has positioned Walls to benefit from these new opportunities.
“Given that the company has traded successfully for 66 years and has its pre-downturn management team intact, we look forward to continuing this year-on-year growth through 2016, 2017 and beyond.”
Trading profit in 2015 was €2.255m, which is a six-fold increase over the previous year.
“One of the major projects that we started in the last year is the new Central Bank of Ireland headquarters on Dublin’s North Wall Quay,” said O’Shea.