Compnay back in black despite losses at waste management business

McLaughlin & Harvey returned to the black last year, the firm’s latest accounts have revealed.

The Northern Irish firm sank to an £8.6m loss in 2023 but the firm posted a £12m profit in the 12 months to June 2024.

In accounts now filed at Companies House, M&H said the figure was achieved despite its waste management business, Barr Environmental, racking up a £2.1m pre-tax loss while closing its landfill business cost £1.6m in impairment charges as well as “substantial one-off costs”.

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M&H said its cash balance at the year-end was up to £147m

Turnover at the group was up 18% to £870m. The firm, which has just over 870 staff, said its net cash at the year-end was £147m, up from £114m.

Construction is the firm’s biggest business with revenue of £825m with its environment business adding a further £8.8m of turnover while a distribution business had sales of £36.5m.

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