McGee turnover tops £100m

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Wembley-based demolition and groundworks contractor McGee Group saw its turnover top £100m last year for the first time and the company is continuing to busier than ever before.

For the year ended 30th November 2015, McGee Group made a pre-tax profit of £4.7m on turnover of slightly over £100m.

Finance director Paul Hickey said: “2015 has been a transformational year for the business with turnover breaching the £100 million mark and delivering a robust pre-tax profit performance. The group generated £11.1m cash from operating activities which allowed us to deleverage our balance sheet, repaying all external debt. The group had no bank overdraft at 30th November 2015 with cash in hand increasing to £4.4m at the year end.”

He added: “Based on the outturn to date in 2016, the group is on track to deliver an even better financial performance in 2016.”

Managing director Brian McGee, pictured below, said: “We have every reason to be optimistic about the future. We expect another year of growth and our pipeline of secured work for the next 18 months is at record levels.”