The Ogilvie Group, the Stirling-based construction and fleet firm, has reported a 17% rise in turnover and a 33% rise in pre-tax profit.
Despite the former climbing to just under £210 million and the latter to £4m, performance across the company’s operations was mixed.
Employing more than 400 people, the group has offices throughout the UK and in New York, as well as trading partnerships with organisations across Europe.
Finance director John Watson said Ogilvie Construction’s increase in turnover but drop in profit highlighted the continued pressure on construction sector margins during the year.
“During the last quarter and post-year end the company secured much needed significant public sector works in addition to an increasing number of negotiated contracts with key clients in the private sector especially in leisure and student accommodation,” he continued.
“The secured workload at the end of the year end was at a satisfying level and the directors are anticipating significantly increasing turnover together with improving margins.”
Ogilvie Homes benefited from the Help to Buy (Scotland) initiative which stimulated mortgage availability especially for first-time buyers.
Though disappointed by the recent funding shortfall, the firm, is confident the scheme’s reintroduction in April next year will reinvigorate the market.
Ogilvie Fleet’s continued growth in client base, further investment in technology and well-managed vehicle disposal policy capitalised on the buoyant used car and van market.
The size of the fleet increased by 4% to almost 11,500 vehicles to consolidate the company’s position in the top 20 UK vehicle contract hire companies and earn a major customer satisfaction award for the fourth consecutive year.
Ogilvie Communications, the integrated telecoms, mobile, voice, monitoring and security consultancy division, reported a loss after losing a strategic supplier.
A restructuring of the sales department and diversification will introduce new products and services the directors believe will provide stability to trade profitably.
Building contracting and housebuilding turnover increased to £94.8m producing an operating profit of £1.16m, and vehicle contract hire turnover rose to £107.5m with operating profits rising to £4.38m.