Heron Bros. has delivered stable revenue and profits in its latest results, as the company seeks to expand its reach within its core markets.
For the year ended 31 August 2024, Heron Bros. reported a slightly improved revenue position of £160.4 million, up from £154.5 million in 2023, underpinned by pre-tax profit of £11.6 million (FY2023: £11.6 million).
And while net assets for the Draperstown-headquartered business grew to £137.3 million, from £127.2 million the year prior, the business also returned a stable cash position of £29.1 million (FY2023: £29.8 million).
“We are expanding the existing construction and renewables sectors within which we operate and strengthening alliances with longstanding customers,” bosses said.
This includes solar, wind turbines, and battery storage software for renewable energy assets, through its energy division.
Adding: “We continue the pursuit of niche markets, residential developments, strategic joint ventures, and developments in conjunction with the company’s property division, to expand its current development model of site identification, design and build, sale, or leasing of developments to both the private and public sector clients.”
Heron Bros. has offices in London, Glasgow, and Manchester, as well as in Northern Ireland, and its main activities include construction, joinery manufacturing, building supplies, quarrying, property investment and development, and renewable energy.
Operating profit climbed from £8.8 million in 2023 to £10 million last year.
Profit for the year was £10.1 million, down from £11.4 million the year before.
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