Profit Track 100

Brothers John, Tom and Pat Carey left Ireland to seek their fortunes in England long before former US president Ronald Reagan landed in their Tipperary village of Ballyporeen to claim ancestral roots there. In 1969 they set up a sub-contracting business in Wembley and later expanded to Milton Keynes, working mainly in groundwork and building contracting. The Carey Group, which now undertakes large civil engineering, demoliton and construction projects, achieved a 43% pa profit growth from £2.2m in 1996 to £6.4m in 1999. Sales in the same period have risen 11% pa to £62.2m. Financial director Brian Feehely attributes profit growth to increased sales following the recovery of the construction sector. Other factors include limiting operating costs by using equipment from Carey’s own expanding plant hire firm, and the company’s close involvement with projects from early planning stages, thus cutting out tendering costs and improving co-operation.

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Company details
CompanyCarey Group
Annual profit growth42.94%
Latest profits £000s6,370
Latest sales £000s62,169

If applicable:

* supplied by company † annualised figure