Building group Sisk expects turnover to hit €650 million this year after reporting strong growth for 2015.

John Sisk & Sons said turnover rose €104 million in 2015 to €535 million while pretax profits increased 25 per cent to €13.7 million.

Managing director Stephen Bowcott said: "We are on track to achieve turnover of circa €650 million in 2016. We now have a strong platform for profitable growth."

He said turnover in the greater Dublin area should reach €350 million and €300 million in the rest of the country. “Work is spread throughout the country. However, outside Dublin prices are not recovering to the same extent.”

He echoed industry criticism of the tendering system for State contracts, which he said was adversarial and could have negative consequences.

Mr Bowcott said the industry faces a skills shortage. The company is working with the Construction Industry Federation to establish a school.

Sisk accounts report it ended 2015 with €70.2 million in equity and €49.3 million cash.