Annual profits double at Coffey Construction

Pre-tax profits almost doubled at the the main firm of Galway-based construction business Coffey Construction last year to €6m.

The 77% rise in pre-tax profit for Coffey Construction Ltd came as revenues at the company rose 5.5% from €34m to €35.9m in the 12 months to the end of December. The directors say they are satisfied with the results, which have seen the group continue to be profitable.

“Market conditions continue to be challenging due to the economic climate and highly competitive tender market in which the company operates, although, there are signs of improvement in both areas, particularly in the UK market,” they said.