South Derry construction manufacturer Tobermore has reported another year of trading growth as sales and profits both grew significantly.
Accounts filed for the year to last April show that the company, founded in 1942, increased its turnover from £76.9 million to £80.4 million.
Pre-tax profit surged from £10.9m to £14.9m, and on a bottom line basis the brick and paving specialist banked just over £11m, pushing its retained earnings at year-end to £94.6m.
During the year dividends of £2,650,000 were also paid, against zero the year before.
“These accounts demonstrate Tobermore’s commitment to investing in our business’s success, the quality of the products we produce, the people who drive our innovation, and our local community,” a spokesman told the Irish News.
“It’s an exciting time for Tobermore, as we have ambitious growth plans supported by significant investment to make them a reality.
“These figures highlight the positive trajectory of our company and our determination to continue delivering excellence.”
In its current trading year, Tobermore plans to invest £8 million in the construction of a new 3,000 square metres factory capable of producing 1,000,000m2 of paving blocks a year, increasing the company’s block paving production by 25%.
It will also spend £4 million in new jobs, including the creation of a dedicated technical design team to support its commercial customers.
This will include recruiting 11 new specification managers and 10 new roles within the commercial/business-to-business team, including two national house builder managers, four strategic account managers and four retaining wall team members, to support its continually growing customer base in Britain.
The current payroll at Tobermore, according to its latest accounts, stands at 413.
That’s three fewer than in 2023, yet as a result the company’s wages bill actually shrank by more than half a million pounds, dropping from £17,676,215 to £17,123,233.
Last July Tobermore appointed its first board of directors in what it says is preparation for the next phase of a planned market expansion.
The new board sits above the company’s current senior leadership team to provide strategic direction, governance, and oversight.
In addition to his role as managing director, David Henderson (71) has become Tobermore’s first chairman (he has been with the company for close to 50 years).
He is joined by the company’s general manager Glenn Robinson, and also Daniel Anderson, who serves in an independent non-executive capacity.
