Turnover and EBITDA climb at Northern Ireland offsite manufacturer following 'significant growth' in modular market

Lisburn-headquartered modular space specialist McAvoy Holdings has pushed revenues up past £75million, with EBITDA also rising.

In the year to May 31 2024, turnover at McAvoy rose from £59.4m to £75.5m, while EBITDA climbed from £4.9m to £9.3m.

The business, which provides temporary and permanent modular buildings, attributed the positive 2023/24 financial year to a strong performance within its rental division, as well as increased sales in the period for its flexible space products.

Key projects included securing a further rental contract to meet a capacity expansion project for a multi-academy trust supporting 1,600 pupils in South West England and the completion of Orsett Heath Academy in Essex, McAvoy’s largest project to date.

McAvoy was also appointed to the Defence Infrastructure Organisation’s £2bn SLA programmatic approach framework via a joint venture with Kier, and enjoyed continued success in healthcare.

Ron Clarke, chief executive at McAvoy, said: "We are pleased to report a strong performance across the McAvoy Group, which reflects growing demand for our premium solutions in the UK and Ireland.

"With the continued support of our shareholders, we are strongly positioned to deliver modern, flexible, and sustainable buildings across the education, healthcare, commercial and pharma sectors.

"We anticipate significant growth in the modular market as demand increases for cost effective sustainable buildings that are flexible, quick to deploy and cost effective."

Looking ahead, McAvoy said it plans to drive continued growth through further investments in rental fleet expansion and manufacturing capability.

More in Insider