Durkan Holdings profit trebles to £3.4m

Durkan Holdings has lifted its pre-tax profit to £3.4m, almost treble the previous year’s figure.

“Durkan traded well and the results were satisfactory against a background of strong competition,” said chief executive Danny Durkan.

He added that with both the public sector new build housing and refurbishment sectors being buoyant, Durkan’s future turnover and profit figures are set to go higher.

Turnover in the 12 months to 31 January 2005 was little changed at £92m. Social housing new build work accounts for almost half of group turnover. Private housing adding a further 25% with the balance being in the form of estate refurbishment in the social housing arena.

Durkan was formed 40 years ago, starting life as a plasterer before subsequently moving into more general construction and development work. It now has an additional sister business based in Dublin.

Danny Durkan, son of the founder Bill Durkan, took a pay cut from £3.1m in the previous year, to just £120,000. This was topped up, however, with a £1.1m contribution to his pension scheme.

The average number of employees through the year was 303 and their total pension cost was £1.4m.