{"id":529798,"date":"2025-09-30T12:45:25","date_gmt":"2025-09-30T11:45:25","guid":{"rendered":"https:\/\/www.constructionnews.co.uk\/?p=529798"},"modified":"2025-09-30T13:12:28","modified_gmt":"2025-09-30T12:12:28","slug":"farrans-profit-slumps-in-final-accounts-before-sisk-acquisition","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/financial\/farrans-profit-slumps-in-final-accounts-before-sisk-acquisition-30-09-2025\/","title":{"rendered":"Farrans profit slumps in final accounts before Sisk acquisition"},"content":{"rendered":"

Turnover and pre-tax profit both took a nosedive at Farrans Construction, in what could be its final results before it is acquired by John Sisk.<\/p>\n

Profit at Farrans Construction more than halved to \u00a33.3m in the year to 31 December 2024, down from \u00a38.2m, while turnover slipped from \u00a3512.5m to \u00a3382.4m.<\/p>\n

Earlier this month, Sisk agreed a deal to acquire Farrans from its ultimate parent company, building materials<\/a> provider CRH. The deal remains subject to regulatory approval from Ireland\u2019s Competition and Consumer Protection Commission.<\/p>\n

If approved, this would be the final set of accounts filed by Farrans under CRH\u2019s ownership. The acquisition would mean a combined turnover of close to \u00a31bn.<\/a> Sisk and Farrans could also have more than 1,400 employees, accounts suggest \u2013 with Farrans employing an average of 655 staff in 2024, and Sisk employing an average of 767 workers in the same year.<\/p>\n

John Wilson, chief executive of Northstone NI \u2013 Farrans\u2019 parent company \u2013 said market conditions \u201ccontinued to be very challenging\u201d in 2024. But Farrans remained profitable \u201cthrough the management of costs in a competitive environment\u201d, he added.<\/p>\n

Cash also fell, to \u00a39.3m from \u00a314.1m.<\/p>\n

This is the first time the Northstone accounts represent Farrans\u2019 turnover, after Northstone assets were distributed to its immediate parent firm, Northstone Materials Ltd in May 2023. Farrans is now Northstone NI\u2019s only immediate subsidiary.<\/p>\n

Sisk did not disclose the financial terms of the deal to buy Farrans Construction, but Sisk chief executive Paul Brown said the acquisition would represent \u201can excellent opportunity for Sisk to broaden its sectoral reach across the UK and Ireland\u201d.<\/p>\n

\u201cTheir strong reputation and track record in delivering complex infrastructure projects aligns well with our strategic growth ambitions,\u201d he added.<\/p>\n

The acquisition announcement followed a statement by CRH in December 2022 that it was considering divesting Farrans as part of a strategic review.<\/p>\n

Experts told Construction News <\/em>the acquisition suggested the construction mergers and acquisitions (M&A) market<\/a> was hotting up. By acquiring Farrans, Sisk \u201csignificantly boosts its exposure to the aviation and utilities sectors\u201d, Dan Coppel, a London-based partner at multinational law firm Faegre Drinker, said.<\/p>\n

In its most recent set of accounts, Sisk posted a profit of \u00a36m, after it had made<\/a> a pre-tax loss of \u00a39.7m in the previous year. Turnover also surged to \u00a3624.9m, from \u00a3475m.<\/p>\n","protected":false},"excerpt":{"rendered":"

Turnover and pre-tax profit both took a nosedive at Farrans Construction, in what could be its final results before it is acquired by John Sisk. Profit at Farrans Construction more than halved to \u00a33.3m in the year to 31 December 2024, down from \u00a38.2m, while turnover slipped from \u00a3512.5m to \u00a3382.4m. Earlier this month, Sisk …<\/p>\n","protected":false},"author":90643,"featured_media":370027,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[552,553],"tags":[],"class_list":["post-529798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial","category-ma","issue-online-news"],"yoast_head":"\nFarrans profit slumps in final accounts before Sisk acquisition | Construction News<\/title>\n<meta name=\"description\" content=\"Turnover and pre-tax profit both took a nosedive at Farrans Construction, in what could be its final results before it is acquired by John Sisk. 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