The construction group Sisk posted a profit of almost €36 million in the previous year, reflecting an over 300% increase, according to Sicon Ltd, its parent company. Sicon Ltd also revealed that the turnover climbed 43% to €2.5 billion in contrast to €1.74 billion in 2022.
CEO of John Sisk & Son, Paul Brown, confirmed the robust financial performance of the group. Brown also indicated that the stability of the firm’s finances in addition to the calibre of their current projects will facilitate additional opportunities for sustained growth.
With more than €2 billion worth of work procured for the current year and a positive outlook for 2025, Sisk is optimistic about growth. The company predominantly functions as a construction and engineering contractor in Europe, predominantly in the UK and Ireland.
Irish turnout witnessed a growth of approximately 40%, increasing to €1.4 billion from just under €1 billion. Notable projects the company has participated in include the €125 million Dunkettle interchange in Cork, which was officially inaugurated this year. This junction connects four national routes, including those binding Dublin, Waterford, and Rosslare with Cork.
The company’s ongoing projects include the Foynes-Limerick rail line, the Vantage data centre campus in Dublin’s Grange Castle, and the overhaul of the glass bottle site in Dublin’s Poolbeg.
Sisk reported that its Irish operations benefitted from a robust activity in the construction sector, specifically in sectors related to data, technology, life sciences and pharmaceutical industries.
The construction group noted having a strong order book for the current year, projecting positively into 2025. In the UK, turnover increased nearly by 30%, reaching €633 million from €491 million. Sisk has also bagged a contract with the Manchester City Football Club to extend the seating capacity at Etihad Stadium by 7,000 seats while adding commercial space, fan amenities and other facilities.
Included in its portfolio was the development of a fresh ferry terminal in Liverpool for the Isle of Man administration, among several other undertakings. Sisk acknowledged that costs associated with past contracts contributed in the UK branch incurring losses in the previous year. Nevertheless, the group anticipates a resurgence in profitability this year, propelled by a substantial order portfolio.
Revenue in the European sector surged by 80 per cent to €450 million, up from €249 million. The enterprise solidified its footing in the region last year through obtaining a number of considerable projects.