Gilbert-Ash announce record annual turnover to almost £219.3m – up by 24%

Northern Ireland construction and fit-out company Gilbert-Ash has announced its results for 2021 with turnover increasing by 24% and pre-tax profits up by 13% on the previous year.

Turnover increased to almost £219.3m from just under £176.2 an increase of £43.1m while profits rose to over £12.4m up almost £1.5m from £10.9m in 2020.

The results represent further growth for the award-winning company, which in 2020 posted he highest profit and second highest turnover in its history.

Gilbert-Ash, which has offices in London and Belfast and over 189 employees, credits its continued investment in its strong performing team, a diverse project base and a healthy pipeline of work as the key drivers of the company’s success. The company continues to work across a range of sectors including arts and culture, workplace, hotels and leisure and education.

Managing director Ray Hutchinson paid tribute to the work of Gilbert-Ash’s people and the support from the company’s clients and supply chain partners.

He said: “This has been a challenging year for the industry with the skilled labour shortage, long lead times for key materials, the pandemic and the impact of rising inflation all combining to create strong headwinds.

“We are proud to have maintained our momentum from the previous year with increased turnover and profits and we look to the future with confidence. Our teams have really shown their mettle and resilience and I am proud of everything we have achieved in 2021.

“Investment in our people remains a core priority of the business and in 2021 our employee headcount rose from 174 to 189.

“As we expand, we continue to search for the right calibre of people to join Gilbert-Ash, while investing in our staff and championing diversity and inclusion remain key priorities.”

Projects completed in 2021 included the £29m University of Brighton Business School, the historic £15m City of London Freemen’s School Main House, the £16m Moxy Manchester City by Marriott, the £21m Levine Building at Trinity College, Oxford and Canalside, a £31m

mixed-use residential scheme in Surrey.

While in Belfast Gilbert-Ash completed the landmark Merchant Square building for PwC, a £15m project which created 200,000 sq ft of Grade A office space over nine floors. The offices accommodate 3,000 employees in the heart of Belfast’s business district and adjacent to Belfast City Hall.

Ray added: “In addition to the strong financial results, the Gilbert-Ash purpose has remained at the heart of our business - making a difference to our projects, our people and our planet through innovation, collaboration and determination.

“While current headwinds, including unprecedented levels of inflation, rising energy costs and interest rates, are undoubtedly challenging, we are working closely with our clients and our supply chain to help mitigate their impact.”

Gilbert-Ash continued its award-winning run with Ray Hutchinson named Construction Leader of the Year in 2021 shortly after receiving the OBE for services to the construction industry and to diversity and inclusion.

Gilbert-Ash has a unique approach to construction, fit-out and refurbishment based on the belief that great buildings come about through hard work, innovation and collaboration. Sustainability is a key focus for Gilbert-Ash with a initiatives underway to help the company to drive down its carbon footprint.