Severfield Commercial & Industrial (NI) Ltd, based in Ballinamallard, County Fermanagh, reported pre-tax profit of £9.3 million for the 52 weeks to March 28, 2026, up from £5.5 million the year before.

Operating profit rose to £10 million from £5.8 million, while profit after tax increased from £4.2 million to £6.6 million. Turnover fell from £139.5 million to £110.5 million, a reduction of about £29 million.

The company, which designs, fabricates and constructs structural steelwork for commercial, energy, transport and infrastructure projects, said the decline in revenue was mainly due to the timing and mix of construction contracts during the year.

Turnover in the United Kingdom fell from £75.8 million to £45.6 million. Income from the Republic of Ireland and mainland Europe edged up from £63.6 million to £64.9 million, giving those markets a greater share of overall turnover.

The accounts show average employment fell from 331 to 296 people. Production and site roles averaged 236, down from 258, while sales and administration staff averaged 60, down from 73.

The company, set up by the Fisher family and previously known as Fisher Engineering, paid a £15 million dividend to its parent group during the year. Net assets fell from £41.8 million to £33.4 million despite the after-tax profit.

Directors said the order book for 2027 was satisfactory and they remained confident about future prospects. Activity levels were varying across Ireland, the UK and mainland Europe, but markets continued to offer opportunities.

The accounts identify supply-chain disruption as a high risk, alongside health and safety, cyber security and the commercial and market environment. The company said it strengthened relationships with key steel mills, renewed framework agreements for paint and transport, and continued to consider alternative supply sources.

Improvement plans were put in place during the year to address a bridge welding issue, supported by the appointment of a Group Quality Director. Auditor KPMG gave the accounts an unqualified opinion and did not identify a material uncertainty over the company's ability to continue as a going concern.