Over 98% of the Group's turnover is derived from construction and related activities. The figures above also incorporate the results of the Korine Property Partners and Origo Distribution businesses, both of which are wholly owned subsidiaries.
The Group has reported strong performance for 2020 after allowing for the significant adverse impacts which the Covid-19 pandemic had on the Group’s operations throughout 2020 and continuing into the current year. The Group experienced a very significant increase in operating costs as a result and took various steps to mitigate these incremental costs.
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The Group's construction activities in Ireland were more impacted than other countries due to government enforced site closures from March 2020 onwards. However, performance and profitability levels rebounded well in the second half of the year, as European economies started to re-open.
Commenting on the construction results, John Sisk & Son CEO Steve Bowcott said: "2020 was a year like no other. Thanks to all our people, for their commitment and hard work, which kept the business running and for managing through the shutdowns professionally and safely. Thanks also to our supply chain partners and other stakeholders for their support.
"Growth is continuing across our business in key sectors such as life sciences and data, in both the UK and across Europe as well as delivering much needed social housing through our Sisk Living division. Our new business pipeline remains strong in key target sectors and while there is some macroeconomic uncertainty, we believe we are well placed and will continue to win work.
"We have also expanded the portfolio of services we offer through Vision Built, our offsite steel frame fabrication business; the ongoing growth of Sisk Living, our social housing business; our partnership with Designer Group in Sensori, our facilities management business, and the new fit-out offering we will launch, which will offer new business opportunity this year and beyond."
