Cambuslang firm one of fastest growing in country
Profits up 75 per cent
A Cambuslang business has been named one of the fastest growing in the country after reporting an annual increase in profits of more than 75 per cent.
AB2000 Limited, based on Westburn Road, has been named in the annual Sunday Times BDO Profit Track 100 league table which ranks Britain’s private companies with the fastest-growing profits over three years.
The plant hire company, which reported profits of £4.1million in 2016, has been named in the top eight fastest growing companies in Scotland and 59th in the UK.
Annual investment in new equipment of £10m has helped win business and boost profits.
Jim Houstoun, CEO of AB2000 said: “The company’s turnover, profit, and operating margins have grown steadily since 2013 following the economic downturn and continue to increase in the current financial year as a result of expansion and investment in the plant and equipment available for hire.”
AB2000 Limited today operates five trading divisions from three sites including its headquarters and workshop in Cambuslang, Nairn and Aberdeen.
The trading divisions include Ellon Plant Hire Limited, Phoenix Weights and Phoenix Marine, which are trading subsidiaries of AB2000.
Jim added: “AB2000 annually invests over £10m in buying new equipment to extend their range of plant to replace equipment. This has been essential in achieving the growth and development of the business.
“In its present format AB2000 is capable of further increasing its turnover, profit margins and profits over the two/three-year period to 2018.”
Adam Bruce, managing director of AB2000, founded the company in 1995.
In 2014 AB2000 was awarded Scottish Business Insider’s fastest growing SME award and was ranked in 2015 as the second most successful SME in Scotland.
Success Staff at the AB2000 headquarters in Cambuslang