Sisk Reports 73% Rise In Pre-Tax Profits

John Sisk & Son has reported a 73% rise in pre-tax profits in its results for the year ended 31 December 2017.

With profits increasing to €24.7m (2016: €14.2m), turnover dropped slightly by 5% to €792.2m (2016; €833.7m).

Key highlights include successfully handing over the €70m redevelopment of Pairc Ui Chaoimh to the GAA in 2017, earning Sisk two honours at the Irish Construction Excellence Awards. The civil engineering business also completed several of Ireland’s substantial projects including the Cross-City Luas extension in Dublin and the N17 Gort to Tuam Motorway.

The business was also selected by Center Parcs to build 470 lodges and 30 apartments at its Longford Forest Resort in addition to the holiday village’s central building that includes swimming pool, bars, restaurants, and retail outlets. Sisk also continued to deliver three strategically important Data Centres in Dublin marking its tenth year of project delivery in this sector.


Commenting on full year performance for 2017, Stephen Bowcott, Chief Executive Officer, said: "Our engineering and construction business enjoyed a successful year in 2017, where performance reflected strong levels of activity, particularly in areas such as data and technology, life sciences and biopharma, advanced manufacturing, commercial, retail, residential and civil engineering.

"The focus we brought to the business in 2017 was around value generation - for our customers, our people and our shareholders. This meant a shift from being a revenue led business to being a profit led business working with key partners to generate greater productivity in the industry leading to better outcomes for our customers.

"The results of this approach are clear across the business where I’m happy to report that Sisk recorded no loss-making projects in 2017 for the second consecutive year. Our focus on value generation, our commitment to safety and the environment and our ongoing investment in our people has paid dividends in 2017 and positions the business on a strong platform for future sustainable growth.

"We continue to be selective about the projects we undertake.  Sisk has the financial platform and skilled people to compete for business across key sectors based on high quality, timely, cost efficient and safe project delivery.

"We were proud to host the inaugural Sisk Supply Chain Awards in late 2017, celebrating our key partners in the supply chain both in Ireland and the UK.  There is a strong order book for 2018 and combined with our focus on value creation for key stakeholders, and sustainable profits, the business looks to the future with confidence."

(LM)