The Republic’s top construction companies increased their combined turnover by 12 per cent in the last year, despite a slow recovery rate in the residential housing market.
Turnover in the top 50 companies rose to €6.72 billion over the last 12 months, according to Construction Magazine's Top 50 Construction Industry Federation (CIF) contractors listing for 2018.
The list is led by John Sisk & Son, which recorded turnover of €950 million. Mercury Engineering and BAM Civil held second and third place on the list respectively, recording turnover of €600 million and €470 million.
Other prominent names closing out the top 20 include JJ Rhatigan & Company, with turnover of €245 million, PJ Hegarty & Sons, with revenues of €205 million, and Walls Construction, which recorded a turnover of €162.6 million.
Tom Parlon, director general of the CIF, called on the Government to set out an export-led growth strategy for the sector. He also said the State's procurement system needed to be fixed, while the construction sector as a whole needed to attract workers back into the industry in the aftermath of the recession.
‘Sector’s recovery’
“We have emerged from the depths of the recession leaner, more modern, sustainable, adaptable and resilient. But there are significant improvements, that still need to be made in order to preserve and support our sector’s recovery into the future,” Mr Parlon said.
Speaking last night, Minister of State at the Department of Finance, Public Expenditure and Reform Patrick O'Donovan agreed with Mr Parlon's assessment that skills shortages need to be dealt with.
“Skills shortages allied with the uncertain global trade situation are likely to increase inflationary pressure in the short to medium term whereas low margins are impacting relationships and payments in the extensive construction supply chain. If not addressed, the capacity for the industry to grow is limited,” he said.
The vast majority of turnover in the list was gained in the Republic although the top 50 companies did export over €1.6 billion in construction expertise during the period.
Companies on the list, compiled by Foundation Media, are members of the CIF which have their primary business in the Republic.
