AG, a County Tyrone-based manufacturer of paving and building products, has cleared £19.5 million in bank term loans, completing a decade-long debt reduction programme.

The company made the final repayments in 2024 following the sale of non-core assets, strengthening its financial position and reducing ongoing interest costs.

Accounts for the year to December 2024 show turnover of £27.8 million, down from £29.2 million in 2023, while gross profit was £10.4 million, compared with £11.9 million the previous year. The company recorded a £1.5 million operating loss, following a £3.9 million profit in 2023, although that included one-off gains from non-core asset sales. Directors said the performance remained manageable given the focus on long-term debt reduction and cost control.

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Despite softer demand across the construction sector and rising material costs, AG said it remains focused on streamlining operations and maintaining supply chain resilience. The business continues to invest in digital capability, customer service and product innovation, including low-carbon and responsibly sourced materials aimed at supporting the transition to more sustainable construction.

In 2024, AG published Environmental Product Declarations (EPDs) for more than 370 products, retained ISO 14001, 9001 and 45001 certifications, and achieved an "Excellent" rating under the BES 6001 responsible sourcing framework.

The company picked up three awards at the 2024 MPA Health and Safety Awards and received recognition at the BITC Responsible Business Awards. It was also named Green Exporter of the Year at the All-Ireland Sustainability Awards and Sustainable Manufacturing Business of the Year at the Business Eye Awards.

With over six decades of industry experience, AG said it remains confident in its long-term prospects, underpinned by continued investment, a strong order book and a loyal customer base.

AG employs over 200 staff across its manufacturing and distribution sites including Fivemiletown, Toome, Pomeroy and Carryduff. It supplies a wide range of paving, walling and facing brick products to the commercial and residential markets through builders’ merchants and direct-to-customer channels.