Northern Ireland

Creagh Concrete's turnover and profits rise

Concrete being poured
Image caption The company is one of NI's biggest concrete producers

One of Northern Ireland's largest concrete producers has posted a big increase in turnover and annual profits.

Creagh Concrete, which is based in Toomebridge, increased its turnover to £51m in 2011, up 24% on £39m in 2011.

Pre-tax profits were just short of £500,000 compared to £59,000 in 2010.

The firm had been hit by the deep downturn in the construction sector and made 90 redundancies in 2008.

Employment at the firm increased over the year, up from 307 to 356.

The directors said the 2011 performance was satisfactory with sales recovering following a "sharp slump" in 2010. They expect a similar performance in the coming year.

The firm, which was founded in 1973, is owned by the McKeague family and has plants in Scotland and England, as well as Northern Ireland.

Earlier this year the company signed a £1m deal to sell a majority stake in a wind project to the UK firm Renewable Energy Generation (REG).

The six-megawatt wind farm is to be built at the company's Brackagh Quarry, near Draperstown.

Creagh also has planning permission for a single wind turbine at its site in Ardboe, County Tyrone, which will provide electricity for its flooring factory.

The firm is investing in wind power in an effort to reduce its fuel bills.

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