Irish company Jones Engineering has reported record revenues of €1.08 billion with an operating profit of 4.9 per cent for 2022 despite what it described as “external challenges” related to the war in Ukraine, inflation and the ongoing impact of Brexit.
The company, which employs more than 4,000 staff and operates in 19 countries, also signalled 2023 would be another strong year and that the company had a strong pipeline of work.
Jones Engineering focuses on large-scale infrastructure projects in the pharmaceutical, healthcare, IT and data-centre industries. It generates about half of its revenue from overseas.
It was acquired by US group Cathexis Holdings in 2022 for an undisclosed sum.
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“2022 has seen our revenues surpass €1 billion which reflects the continuous growth and ambitions of the group despite some global challenges,” chief executive Stephen McCabe said.
[ Jones Engineering acquired in €1bn-plus dealOpens in new window ]
“2023 will be another successful year and the company has a strong order book for 2024, with a continuous pipeline of work into 2025 and beyond,” he said.
“Despite external challenges including the war in Ukraine, inflation, and the ongoing fallout from Brexit, the company continues to go from strength to strength. Indeed, as the company’s global reach expands, our overseas turnover will exceed our domestic business within the near term,” he added.
