Chief executive: Damian Heron
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.