Gilbert-Ash, the Belfast-headquartered construction and fit-out contractor, has reported pre-tax profits up 11 per cent to £7.6 million for 2025, despite turnover falling to £227 million from £268 million in 2024. The company said the turnover decline reflected a delayed project start that has since progressed at pace, with a strong order book pointing to further growth.

Gilbert-Ash, founded in 1946 and headquartered at Boucher Place in Belfast, also operates offices in London and Dublin.

Projects completed in 2025 include the €47 million citizenM hotel in Dublin, the £53 million Wilde Aparthotel in Cambridge, the £28 million The July hotel in London, the £40 million Theatr Clwyd project in Wales, St Paul's Junior School in London and a major project at Winchester College.

New contracts won include a tech campus on a 90-acre site near Bristol for a US healthcare software company and a major refurbishment of the Royal Institute of British Architects' London headquarters.

The order book includes two Premier Inn hotels for Whitbread in Dublin, the €41 million Jervis Street and €37 million O'Connell Street schemes, which together will add almost 450 beds, alongside a Premier Inn in Brighton and two hub by Premier Inn hotels in London that will form the largest Premier Inn in Whitbread's portfolio at 693 bedrooms.

Work is also nearing completion on a £30 million sports centre at Eton College, while the £28 million refurbishment of Tate Liverpool continues.

The structural driver is a diversified repeat client base spanning hospitality, arts and education, anchored by Gilbert-Ash's long-running Whitbread relationship, cushioning turnover volatility from individual project timing while sustaining profit growth.

"The past few years have required careful navigation for our industry, but our results this year are proof that quality work and quality people are the best way to meet these challenges," said Ray Hutchinson, managing director at Gilbert-Ash.

For the sector, Gilbert-Ash's results show how a diversified, repeat client order book can sustain profit growth even as individual project timing causes annual turnover to fluctuate.

Source: News Letter / NLA London