Quinn Industrial Holdings records positive 2017

Quinn Industrial Holdings records positive 2017
12 April 2018

Quinn Industrial Holdings (QIH) has recorded a 7.4 per cent YoY increase in turnover to EUR209m for the full-year 2017 period. EBITDA saw a significant improvement of 31 per cent, from EUR18.2m to EUR23.9m.

The positive results have been partly attributed to a strong performance from Quinn Building Products, which benefitted from the ongoing building recovery in the ROI and stronger exports to the UK via its new cement export hub at Warrenpoint, according to a press release.

Liam McCaffrey, chief executive officer of QIH, stated the positive results puts the company on track to deliver a fourth successive year of growth.

"Despite the significant macro-economic challenges posed by Brexit, we continue to invest, grow sales, innovate and drive margin growth. Encouragingly, volume growth trends from 2017 are continuing year to date in 2018 and at this point we are firmly on track to deliver our fourth successive year of strong earnings growth," said Mr McCaffrey.

Liam McCaffrey also highlighted the positive outlook of the company by noting the recent investments it has made.

"Over the past three years QIH has invested EUR26m, including EUR7.6m in 2017. Post year end we are taking delivery of a further 33 new trucks as part of a EUR3m fleet upgrade, with further investment planned. This ongoing investment reflects QIH’s positive outlook for the business and our commitment to driving sustainable growth post-Brexit," he said.

Published under Cement News