More than 100 workers have received four-figure festive bonuses at Dundee civil engineering firm Kilmac, just in time for Christmas.
The business became employee-owned last May and has since gone on to have one of the most successful years in its history.
The most recent accounts showed turnover of more than £25 million as the company worked on projects such as Perth Museum and Dunfermline High School.
The Dundee Technology Park business is expecting to generate around £40m sales in the 2023/24 financial year.
And this has freed up a festive bonus pot of more than £250,000 for the staff.
Kilmac bonus plans
Finance director Julie Scobie said now the business has an employee ownership trust (EOT) Kilmac staff can expect bonuses for years to come if it continues to perform well.
She said: “We are delighted staff who have been with us for at least a year have been able to enjoy a substantial Christmas bonus.
“Anyone who has been with us for at least five years is entitled to the maximum tax-free allowance under the EOT guidelines and the figure is the same for every member of staff who qualifies, no matter their role within the company.
“We are on target to report a record turnover in the region of £40m for the 2023/24 financial year.
“That reflects the expansion we have been undertaking, adding offices in Livingston and more recently Dunfermline to our more traditional Tayside heartland.”
Determined to prepare the succession planning groundwork, founders Athole McDonald and Richard Kilcullen moved down the EOT path last year.
“Many of our staff, whether in the offices or on the building sites, have been part of the team for years.
“The EOT bonuses have been designed to encourage businesses which have a track record of investing in developing and retaining their workforce,” said Julie.
How will workers spend the cash?
Long-time Kilmac workers Stevie Roy, Colin Welch and Marie Bartlett admit the windfall could not have been timed better.
Foreman Stevie said: “It has come as a very pleasant surprise. I don’t think anyone was expecting such a hefty bonus.
“I have been with the company right from the start. There has always been a family feel.
“That hasn’t changed despite growing and moving into employee ownership.
“How is the bonus going to be spent in our household? You’d need to ask my wife!”
Colin, who joined Kilmac when the company was formed nearly 20 years ago, added: “We had heard there might be a nice Christmas bonus in the pipeline so it’s very welcome.”
Dundee office manager Marie, who has been with Kilmac for nearly 10 years, said: “It’s perfectly timed and sure to make for a special Christmas.”
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