Latest news with #NeilMartin
Irish Post
28-04-2025
- Business
- Irish Post
Sir Robert McAlpine returns to profitability
THE civil engineering and construction firm Sir Robert McAlpine has reported a return to profitability, posting a pre-tax profit of £10.4 million for the year ending October 2024, a significant turnaround from the £104.6 million loss recorded the previous year. The construction company, with strong ties to the Irish community in Britain, has released its latest accounts. The company also reported a 7% increase in turnover to £940 million and a cash balance of £143.5 million, up from £100.8 million in 2023, while remaining debt-free. The order book stands at £1.3 billion, with an additional £1.2 billion in preferred bidder positions. So far this year, £813 million has been secured or delivered, with a further £129 million nearly over the line. Notable project wins include the Agratas state-of-the-art battery cell manufacturing facility in Somerset, Tata Steel's new electric arc furnace at Port Talbot, a 90-bed mental health facility at Tolworth Hospital, and the NESST innovation hub in Newcastle. CEO Neil Martin expressed confidence in the company's direction, stating that the benefits of the strategic changes are reflected in the stable performance of 2023/24. He emphasised the company's focus on client value, operational excellence, and targeting the right opportunities, supported by the expertise of supply chain partners. Founded in 1869 by Robert McAlpine in Lanarkshire — an area with a large concentration of Irish immigrants from the 19th century onwards — the company became one of Britain's foremost civil engineering firms. The hard life of the navvy has gone down in folklore. The song McAlpine's Fusiliers — written by Dominic Behan and made famous by The Dubliners — gives an overview, in amusing fashion, of life on Britain's construction sites, and of working for Sir Robert McAlpine. The company is also mentioned in other songs, such as Building Up and Tearing England Down, also written by Behan, with a first verse that runs: Oh, I've worked on the railways and I've worked on the roads, I've worked with the gangway and I've carried me load, I've dug the big tunnels and I've cut the big drains, And I've blasted the rock and I've dammed up the mains. Although these songs talk about tough times for the navvy, historian Ultan Cowley, and regular contributor to The Irish Post, has suggested that the relationship between Irish labour and senior management at Sir Robert McAlpine was more collaborative than what is related in these songs.
Boston Globe
25-02-2025
- Business
- Boston Globe
R.I. to create government-run venture capital fund for startups
In order to qualify for an investment, companies will have not received any — or very minimal — equity capital, including pre-seed and seed funds, and have a substantial presence in the state, according to Neil Martin, the managing director of financial programs for Rhode Island Commerce, who previously worked as the chief financial officer for the Get Rhode Map A weekday briefing from veteran Rhode Island reporters, focused on the things that matter most in the Ocean State. Enter Email Sign Up The maximum investment will be $250,000. Rogue Ventures must match that amount with at least equal private investment, according to Martin. Advertisement In Rhode Island, venture capital funding is not as prominent as other states. The Providence area, for instance, brought in $169 million in venture capital in 2023, according to PitchBook, a platform that provides private market data. By comparison, The Related : Advertisement The Rhode Island Venture Capital Fund will not focus on specific industries, Commerce spokesman Matthew Touchette told the Globe. It is also expected that most, if not all, of the initial $2 million in funds will be invested by June 30, 2026, he said. It's not yet clear when businesses can apply for investment. Most of venture capital investments are done in the private market. Outside of Rhode Island, government-backed venture capital funds aren't anything new. In the Bay State, MassVentures Related : In recent years, venture capital in the private market has also faced While Commerce's board of directors voted unanimously to establish the fund, board member Donna M. Sams told Rogue Ventures co-founder and managing director Thomas Sperry that she wants regular updates on the status of the fund. Oftentimes 'you look at the data that's out there, and these small businesses mostly stay the same size for a very long time, they aren't getting any bigger, and yet we keep investing money,' said Advertisement 'That needs to change,' added Sams. 'They should be getting bigger. That's what economic development means.' Alexa Gagosz can be reached at
