The company, which broke ground on its first ever project in continental Europe this year, saw its operating profits decline, however, to €15.7m from €19m.
That decline is thought to be due to the timing and status of large-scale, multi-year projects rather than reflective of a negative trend. John Paul Construction was founded 75 years ago. It is currently working on projects including the Harcourt Square development for Hibernia Real Estate Group.
That project includes about 345,000 sqft of office space in two interconnected buildings.
It is due for completion in 2026 and most of the space has been pre-let to KPMG. It also features roof terraces, roof gardens and courtyards.
John Paul Construction is also involved in the redevelopment of Rosslare Europort, in Wexford, on behalf of the Office of Public Works.
It started that project last year, and it involves the upgrade of Terminal 7, and features 35 buildings and about 120,000 sqm of concrete trailer parking space.
That is due for completion towards the end of next year.
“Continued focus on a sectoral and geographical diversification strategy has resulted in strong margins and in mitigation against cyclical market risk,” said John Paul Construction managing director Liam Kenny.
He said the company’s average project size is now more than four times bigger than it was five years ago.
“Whilst enjoying strong performance during 2023 and 2024 to date, the company continues to manage and mitigate supply chain availability and price volatility risks that persist in the industry,” said Mr Kenny.
“The short to medium-term outlook in the areas that the company does business remains positive, and we believe that ongoing focus on diversification and sustainability remain central to the continued success of the business,” he added.
John Paul Construction has been involved in a number of large data centre projects and is also building a major medtech facility for US firm Dexcom in Athenry, Co Galway. Construction of that manufacturing site began earlier this year. The facility is expected to eventually employ 1,000 people.
The company also has a 25pc stake in a business in the Middle East, whose turnover is not included in the Irish group’s reported revenue.
