Bennett Construction turnover rises 36% to €131m

Mullingar-based Bennett Construction, whose projects include the Helix at DCU and the international headquarters of Penneys/Primark, saw revenue surpass the €100 million mark for the 12 months ending March 2016.

Recently filed accounts for the group, which also has operations in London and Munich, show it recorded a profit before tax of €1.99 million, up from €1.5 million a year earlier.

Turnover at the family-owned firm founded in 1917 jumped 36 per cent to €131.2 million, having risen 18.5 per cent to €96.3 million in the prior year.

It marks a remarkable recovery for the company, which saw revenue plunge to €40 million from €70 million in 2011, as the recession hit before it staged a comeback based on finding success overseas.

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During the reporting period, turnover from the group’s Irish operations rose to €82 million from €66.3 million, while revenue from outside the Republic increased to €49 million, compared with €30 million a year earlier.

Staff numbers rose to 120 from 101 during the year with related costs, including wages and salaries, rising to €9.2 million from €6.7 million.

The directors – Jim Bennett, Stephen Bennett, Paul Bruton, Carole Smilie, Michael Pigott and Paul McGee – shared remuneration of €867, 518, down from €1.1 million in the previous reporting period.

Recent projects the construction firm has worked on include Airbnb’s European headquarters in Dublin and the Binary Hub student housing development, near Thomas Street.