The UK arm of Irish contractor JJ Rhatigan has grown its turnover by four-fifths and its pre-tax profit by almost two-thirds in a bumper set of results.
London-based JJ Rhatigan & Co (UK) Ltd posted revenue of £154.4m for the 12 months to 31 October 2024, up 80.9 per cent from the previous period.
Its pre-tax profit soared by 65.7 per cent to £9.7m in the latest year.
The UK arm of Galway-headquartered JJ Rhatigan Building Contractors was launched in 2009 and had turnover of just £4.4m in 2014.
It has since grown substantially and is working on projects including a 662-room student accommodation complex in north London.
The company described its bumper turnover in 2024 as “satisfactory” and said no “item, transaction, event or change in accounting policy” had made a substantial impact on results.
Its cash at hand almost doubled from £20.3m to £40.2m.
The firm held no bank loans and paid out no dividends.
JJ Rhatigan’s UK headcount grew from 36 to 54 in the latest period, with staff costs increasing by two-thirds to £5.4m.
Contract wins in the latest financial year included its selection in spring 2024 for a £49m London scheme containing a co-living homes and women-only housing.
This will see it deliver Yardhouse (pictured), the redevelopment of two buildings in White City for social landlord Women’s Pioneer Housing.
Elsewhere in the capital, JJ Rhatigan is delivering the 95-apartment Eden NW2 scheme for Fusion BXT Devco.
This features a double-height retail space and a basement car park.
It is also working on the £109m, 407-apartment Crown Trading Centre scheme in Hayes, West London.
Works here include external construction, landscaping and interior fit-out.
Since the period covered by its latest accounts, JJ Rhatigan signed an £84m contract earlier this year to deliver a 296-home development in Ealing, west London.
The Twyford Abbey scheme will include restoration of a Grade II-listed walled garden for community use.