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30/08/2024

Portview Grows Turnover To £74m

Portview, the Belfast fit-out specialist, increased its turnover to £74 million for the year ending November 2023, with its operating profit doubling to £7.6 million, according to the company’s latest accounts.

Established over 50 years ago, Portview operates throughout the UK and Ireland, focusing on creating exceptional spaces for some of the world's most renowned brands. Its prestigious projects include fit-outs at Wembley Stadium, Harrods, Ascot Racecourse, and the Tottenham Hotspur Stadium.

The board of Portview said they are satisfied with the strong trading performance for the 2023 financial year and that their objective is to achieve sustainable growth whilst maintaining a gross margin percentage that is consistent with previous years.

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Last year marked the conclusion of a long-term succession strategy, with two shareholders departing the business and Paul Scullion assuming the role of managing director. The remaining board of directors had already been established as part of this transition plan.

Mr Scullion said: "We are strategically well positioned across a number of key sectors, with a high level of repeat business bolstered by prestigious new clients enabling us to anticipate further steady growth from a record order book.

"Our collaborative approach and consistent delivery of high-quality, complex projects are the main drivers behind our continued progress.

"Growing our employee numbers by over 60% in the last five years to 140 has enabled the business to deliver large projects such as the recently completed 17-storey 441,320 sq ft London College of Fashion within Queen Elizabeth Olympic Park. We are continually looking for high-calibre people as we expand further."

The accounts show that Portview is sitting on cash reserves of £11.1m, which is down from £16.2m the previous year.

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