EW markets form basis for growth as Mallaghan assumes profit for 2021

A temporary halt in production at both its aviation manufacturing facilities in Northern Ireland and in the United States in spring 2020 led to a reduced turnover of £43,046,460 compared to that of 2019 (£69,901,175).

Despite a record first Quarter, the annual accounts post an operating loss of £508,948 for 2020, now deemed the worst year on record for the aviation industry. In 2019 the company, which sells airport ground support equipment (GSE) in more than 100 countries across the world, recorded an operating profit of £4,867,165.

Ronan Mallaghan, managing director at Mallaghan, said: “Demand for air travel in 2020 was approximately two thirds less than that of 2019. As would be expected this had a significant impact on the demand for the GSE we manufacture for airlines and airports across the world. However, with all challenges come opportunity, and that is how we have approached the last 18 months.

“Processes have been reviewed at all levels of the business resulting in improved efficiencies, and our R&D strategy has been altered to reflect the new needs of the aviation industry post-pandemic.

“Despite the challenging conditions we continued to invest in our people and in R&D, resulting in the launch of our new i-tec brand to further develop our range of eco-friendly and electric products that will assist customers achieve the industry’s environmental targets.

“Air travel demand is returning at a different pace across the world and we are looking to new opportunities in markets such as China and the United States where a return to air travel has happened much faster than in Europe.

“With continued success in these markets and the healthy orders we are already seeing for 2022, I anticipate Mallaghan will see a prompt return to profit.”

Mallaghan Engineering was founded by Terry Mallaghan in County Tyrone in the 1960s as a Civil Engineering contractor and branched into GSE products in 1990.

A message from the Editor:

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

In order for us to continue to provide high quality and trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper whenever you are able to do so.

Our journalists are highly trained and our content is independently regulated by IPSO to some of the most rigorous standards in the world. But being your eyes and ears comes at a price. So we need your support more than ever to buy our newspapers during this crisis.

With the coronavirus lockdown having a major impact on many of our local valued advertisers - and consequently the advertising that we receive - we are more reliant than ever on you helping us to provide you with news and information by buying a copy of our newspaper when you can safely.

You can also enjoy unlimited access to the best news from across Northern Ireland and the UK by subscribing to newsletter.co.uk

With a digital subscription, you can read more than five articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit https://www.newsletter.co.uk/subscriptions now to sign up.

Thank you