LONDON: Rapid expansion in the UK helped Co Mayo civil engineering group, Wills Bros to more than double pre-tax profits to €3.28m in 2015. New accounts show that Wills Bros achieved the 128pc increase in pre-tax profits after revenues increased marginally from €69.68m to €70m. The main driver behind the group’s growing business was its UK revenues more than doubling from €14.64m to €31.66m. According to the firm’s director’s report “the group has increased its presence in the UK market and the group is in a position to benefit from an improving market in Ireland and the UK”. The report states that the directors “are satisfied with the turnover and profitability for the year”.
The company’s Irish revenues decreased from €55m to €38.37m. The principal activity of the firm is road building and civil engineering. The firm paid dividends of €250,000 during the year. On the firm’s future developments, the group states that it expects to operate at a similar level of activity in the forthcoming year. At the end of 2015, the firm’s accumulated profits stood at €12.5m. The firm’s cash during the year soared from €11.99m to €19.47m. The profits take account of non-cash depreciation costs of €1.2m. Employee numbers at the firm increased from 187 to 198 with staff costs decreasing from €10.52m to €9.89m Pay to directors increased marginally from €234,619 to €238,026. The firm recorded post tax profits of €2.66m after paying tax of €616,361.
