SIAC Construction Limited, one of Ireland’s leading civil Engineering and building companies, has announced a profit after tax of €11.3m – that’ a €5.1m increase on last year's figures.

Turnover increased by 15% to €276 million in 2006.

Commenting on the results Chairman, Finn Lyden, said: “Significant growth was seen during 2006 and both turnover and operating profits reflect this trend which was in line with our expectations.

Apart from securing the M3 Clonee Kells Motorway project in joint venture with Ferrovial Agroman and commencing Phase 1 of the M50 Upgrade Scheme, significant progress was made during 2006 on the construction of the 14.3 km A1/N1 cross-border dual-carriageway linking Newry and Dundalk. This was a major cross-border project between Louth County Council, The Department of Regional Development for Northern Ireland Road Service and The National Roads Authority (NRA). The road was officially opened on 2 August 2007.

-- Advertisement --

Another significant development was the completion of the N15 Ballyshannon/Bundoran bypass which was opened in April 2006. This project incorporates the award-winning Cathaleen Falls Bridge over the River Erne. The landmark bridge has a unique two-tier structure with the lower tier providing a pedestrian crossing while the upper tier carries vehicular traffic.”

Managing Director, Hank Fogarty, said: “The Company had a number of significant achievements this year which included both major motorway contracts and high quality urban regeneration projects, such as Dublin’s O’Connell Street.”

SIAC provides turnkey solutions to the Civil Engineering and Building industries and has extensive Commercial Development and other investment interests.Notable SIAC projects include the Bridgewater Centre, Co Wicklow, Gloucester Police Headquarters and the African Plains at Dublin Zoo.

(GK/SP)