Ceiling maker lifts the lid on profit of €9m

McElhinney family’s firm is aiming for export growth in the US, Australia and Hong Kong, writes John Reynolds

THE McElhinney family’s metal ceiling tile manufacturing firm, SAS International, has booked a €9.1m profit on sales of €113.1m in its latest filed accounts as it seeks export growth in the US, Australia and Hong Kong.

A rise in profits from €7m last year was driven by increased sales in the UK-headquartered firm’s key markets, here and in the UK, as well as Australia and Hong Kong, according to Cavan-born founder Eddie McElhinney’s youngest daughter, Siobhan, who chairs the business.

Landmark buildings the firm has worked on here include the Royal College of Surgeons and the Central Bank, as well as Terminal 2 at Dublin Airport.

“This year we’ve secured the Dubai Metro, the extension to Hong Kong Airport, and skyscrapers 60 Martin Place in Sydney and 22 Bishopsgate — London’s tallest, at 62 storeys. We’ve also completed Muscat International Airport in Oman, and are in the final stages of the huge new Kowloon MTR underground station in Hong Kong, where we have worked since 2012,” said Siobhan McElhinney.

“Ceilings are becoming more bespoke and specialised as clients and architects continue to demand something unique. The biggest innovation we have seen is the integration of lighting and ceilings, where we have brought a number of new products to market which include new materials and finishes. In addition, acoustic demands are ever increasing in the commercial office, education and infrastructure environment and we see increased demand for products that can solve those acoustic challenges,” McElhinney said.

“The USA is a big opportunity for us and we’re excited about securing a number of projects that we are bidding on. We are focusing on the east coast now, driven by project demand from specifiers for bespoke metal and timber solutions.

“We’ve had a very good year in Australia as our products increasingly become the product of choice for commercial new-build and fit-outs in Sydney and Melbourne. The business is optimistic about securing infrastructure work in those cities as well. In Hong Kong, building on the success of the Kowloon project, we have secured more work at the city’s airport and continue to target further opportunities,” she added.

The UK and Europe accounted for about 80pc of sales last year, according to the accounts, while the remainder were booked in the Middle East, Australia and Asia.

The firm has gained a reputation for its innovative design-led work, such as that for the landmark London HQ of Bloomberg, where its petal-shaped ceiling tiles have a lighting, acoustic, cooling and design function.

However, McElhinney added that she is concerned about the company’s ability to attract skilled international staff to work at its factory in Wales in the wake of Brexit, and is contingency planning with regard to both its supplies of raw material supplies and logistics needs.