Durkan names new CEO as revenue rises to £165m

South east building contractor and developer Durkan has promoted finance director Ronan Murphy to chief executive after reporting strong annual results.

The group has also been split into three divisions as Durkan implements a strategic plan to develop its contracting business and expand its house building and partnership activities.

A new business plan aims to more than double the turnover in the next five years with ambitious targets set for each division.

Durkan’s latest results for the year to 30 November 2018 show turnover up 17% to £165m with an operating profit up a quarter to £10.8m.

Murphy said: “The results are a great indication of the progress we are making as a business. 

“This makes us all the more confident that now is the right time to push forward with our ambitious business plan.”

His appointment follows other recent changes at board level. 

Over the past year Bill Beyzade and Jason Smith have joined the board as Land & Development Director and Technical Director respectively.

Durkan’s order book currently stands at £400m, and is expecting to grow further in the coming year.

This reflects continued progress made in the group’s successful contracting and development divisions during 2018, with strong sales at completed developments in Putney and Woolwich. 

Durkan has also increased its work with the public sector, as shown by the recent completion of The Exchange, a collaborative project with Aylesbury Vale District Council.

The house building division will incorporate Durkan’s recently announced focus on land acquisition and expansion into the Home Counties. 

The division aims to become a 5 Star housebuilder, achieving an output of 400 units per year in the next five years.

Original article: constructionenquirer.com

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