Lagan Construction Group has posted a pre-tax profit of £4.6m for 2014/15, its first full-year results since the sale of its stake in a highways joint venture with Amey.
Turnover for the year ending March 2015 grew to £213m, up 28 per cent on the previous 12 months.
In its financial statement filed with Companies House, Lagan also revealed that it had sold its stake in Irish joint venture Amey Lagan Roads Holdings.
Commenting on the results, the firm added that “despite challenging market conditions the group has managed to maintain acceptable margins”.
The family-run company predicted further growth in 2016 backed by an “extremely strong order book”, and the addition of new businesses into the group.
In April, Lagan added to its portfolio with the acquisition of one of Northern Ireland’s oldest contractors, H&J Martin.
Lagan is currently working on a number of projects in its native Northern Ireland and other parts of the UK.
In November, it landed the £18m contract to develop Belfast’s second City Quays office block as part of the £250m regeneration of the harbour. The firm has also recently completed a £133m scheme to build a dual carriageway between Belfast and Larne.
In September a JV between Lagan and Sisk won a £40m contract to carry out works on the A19/A1058 Coast Road in North Tyneside as part of Highways England’s four-year Collaborative Delivery Framework.