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News » UK » Cruden turnover tops £200m for first time » published 27 Sep 2017

Cruden turnover tops £200m for first time

Scottish construction group Cruden has reported a strong increase in annual turnover, profit and home sales.

Managing director Kevin Reid Above: Managing director Kevin Reid

Cruden Group has posted pre-tax profit of £10.4m on turnover of £200.6m for the year to 31st March 2017.

Profit before tax was up nearly 40% on the previous year (2016: £7.5m) and group turnover was up 30% (2016: £154.2m).

It was the company’s 18th consecutive year of profitable trading.

Net assets now stand at £43.6m (up from £38.8m in 2015), and access to a £9m bank facility remains undrawn.

The number of homes sold by the group increased from 139 in fiscal 2016 to 280 last year.

Construction turnover was up 18% to £160m (2016: £136m). Core activity remains the construction and refurbishment of residential housing for public sector clients.

Managing director Kevin Reid said: “I’m very pleased to report that 2017 has been a fantastic year for Cruden, delivering the group’s highest turnover and profit in its history.  To have had 18 consecutive years of profitable trading is a wonderful achievement, especially against the challenging economic backdrop we’ve had in recent years.

“The group board is delighted with the strong performance of the business, and we look towards our 75th anniversary next year with optimism. We fully expect our business to continue to grow sustainably in the years ahead.”

 

 

MPU

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This article was published on 27 Sep 2017 (last updated on 27 Sep 2017).

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