Ni fit-out com­pany mjm ma­rine re­ports jump in turnover to £62 ma sit se­cures deals around globe

Belfast Telegraph - Business Telegraph - - News - BY MAR­GARET CAN­NING

NEWRY fit-out firm MJM Ma­rine, also the own­ers of Mi­van, has re­ported a 50% jump in pre-tax profits of £7.5m as it re­vealed it’s mon­i­tor­ing the im­pact of Brexit.

The com­pany also had a 4.4% in­crease in turnover to £62m dur­ing 2016, which it de­scribed as “a very suc­cess­ful year” in which it se­cured deals across dif­fer­ent lo­ca­tions and in­dus­tries.

It also in­creased em­ployee num­bers by 16% from 185 to 2015

Dur­ing the year, the com­pany’s Mi­van brand — which it ac­quired when the firm of the same name col­lapsed three years ago — car­ried out the fit-out of the lux­ury Grand Hiber­nian sleeper train.

Com­pany founder Brian Mcconville was named Busi­nessper­son of the Year at the 2017 Belfast Tele­graph Busi­ness Awards in as­so­ci­a­tion with Ul­ster Bank.

The Newry-based firm, which also fea­tures Mr Mcconville’s son Con­leth and daugh­ter Naiomh as di­rec­tors, along with chief ex­ec­u­tive Gary An­nett, said it had been con­tin­u­ing to grow dur­ing the year.

It had se­cured multi-mil­lion pound deals with “world-lead­ing cus­tomers” and had im­proved trad­ing per­for­mance, turnover and gross profit mar­gin.

But the com­pany said it would not be rec­om­mend­ing the pay­ment of div­i­dends but would in­stead rein­vest profits to fund the fu­ture growth and de­vel­op­ment of MJM. Pre-tax profits had grown by around 60% from £4.9m the year be­fore.

A strate­gic report added: “Em­ployee num­bers have in­creased with the level of turnover, the com­pany con­tin­ues to mon­i­tor con­tract prof­itabil­ity and strives to con­stantly gain ef­fi­ciency on con­tract de­liv­ery.”

And the firm said it mon­i­tored risks from con­tracts which could lead to fi­nan­cial loss. It de­scribed in­te­rior fit-out as a “price sen­si­tive mar­ket” with a few com­peti­tors.

How­ever, the firm said it se­cured con­tracts through its “renowned qual­ity and world class de­liv­ery, flex­i­bil­ity, cre­ativ­ity and a con­tin­ued fo­cus on im­prove­ment in busi­ness pro­cesses”.

The report added: “The di­rec­tors are con­stantly con­sid­er­ing the na­ture and ex­tent of the risks... aris­ing from Brexit...

“The com­pany rep­re­sen­ta­tives have both ar­ranged and at­tended sem­i­nars with var­i­ous ex­perts, and are fully aware of the po­ten­tial im­pli­ca­tions and recog­nise the im­por­tance of stay­ing in­formed...”

But the firm said that on re­view­ing its or­der book, bud­gets and cash­flow fore­casts, it had a “rea­son­able ex­pec­ta­tion” of be­ing able to con­tinue in busi­ness.

MJM founder Brian Mcconville

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