Offsite specialist McAvoy suffers £1.8m loss

16th August, 2019

Offsite construction specialist McAvoy Group has fallen into the red after being hit by project delays.

Directors reported revenue down by a quarter to £45m last year. This saw the 217-employee firm suffer an £1.8m loss compared to a £4.2m pre-tax profit for the previous year.

In a statement with the results, the firm said: "Caution in key customer decision making with regard to project start-up impacted by both political and Brexit uncertainty is the principal factor involved."

It said that the outlook for 2019, acknowledging the continued Brexit uncertainty, had improved with key projects in its core schools market "in contract"

For greater long term growth McAvoy is also investing more in housing and health markets.

The firm recently completed one of the UK's first purpose-designed out-patient care centres, in the shape of a new three-storey wing for Northumbria Specialist Emergency Care Hospital.

It is also aiming to make a mark in housing with a new seven-day foundations-to-finish modular system for all tenures.

Eugene Lynch, managing director of The McAvoy Group, said: "We have ambitious plans for growth in the residential sector and have capacity already in place to meet demand using our highly skilled labour and flexible production facilities."

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