Heron Bros

Chief ex­ec­u­tive: Damian Heron

Belfast Telegraph - Top 100 Northern Ireland Companies - - ENTRIES 21-100 PROFILED -

Pre-tax profit: £8.6m Em­ploy­ment: 248 Pay bill: £10m

2 St Patrick’s Street Magher­afelt BT45 7AL Tel: 028 7962 8505 www.heron­bros.com

Pre-tax prof­its at Lon­don­derry con­struc­tion firm Heron Bros dropped by a third to £8.6m in the 12 months to Fe­bru­ary 2018. Af­ter re­port­ing one of the most suc­cess­ful years in its 60-year his­tory last De­cem­ber, turnover at the Drap­er­stown-based com­pany dropped 21% to £74.6m in its lat­est fi­nan­cial year.

While the 2017 fig­ures were in­flated by the sale of a sub­sidiary com­pany, Heron Bros’ lat­est ac­counts show it did ben­e­fit from a sig­nif­i­cant in­ter­est pay­ment from its in­vest­ment in re­new­able en­ergy busi­ness, Sim­ple Power Ltd.

Heron Bros has since sold the wind firm, which had 52 tur­bines in its port­fo­lio, to Lon­don-based in­vest­ment fund Fore­sight in a deal an­nounced in Oc­to­ber last year.

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