Pre-tax profits at the builder of the Central Bank HQ and the 3Arena in Dublin last year increased by 50 per cent to €9.65 million.
New accounts just filed by Walls Construction Ltd show the business recorded the surge in pre-tax profits as revenues rose from €273.55 million to €303.8 million.
According to the directors’ report, the business has a strong order book for 2022 "and a good line of sight into 2023 and beyond”.
The firm’s pre-tax profits increased from €6.4 million to €9.65 million.
The directors state that they are confident that the group will continue its growth and build on its financial trading position.
The business was impacted by Government Covid-19 measures for the first 15 weeks of 2021 which suspended all non-essential construction works.
The measures resulted in a significant reduction in revenues for that part of 2021.
The business last year benefited from €2.4m in ‘other operating income’ through Government grants.
Some of the company’s other projects include LinkedIn’s Dublin HQ, Google’s Bolands Mill scheme, the Kerry Group’s Global Technology and Innovation Centre at Naas, Co Kildare and the Cliff House hotel in Co Waterford.
Numbers employed by the group last year increased from 316 to 340 with staff costs rising from €26.25 million to €28.28 million.
Directors’ pay increased by 34 per cent to €2.6m including pension contributions of €72,258.
The firm recorded post tax profits of €8.37 million after paying corporation tax of €1.28 million.
Walls Construction is currently looking to cash in on its north Dublin HQ with plans before An Bord Pleanála for a €77 million nine-storey mixed use scheme made up of 176 apartments on the site of its HQ at Northern Cross, Malahide Rd in Dublin 17.
