Ogilvie profits up after a solid year
A Stirling-based construction business has reported a‘solid’ set of annual results.
The Ogilvie Group last year achieved a 12 per cent increase in profit compared with 2015.
Group turnover, excluding joint ventures, was £207.6 million resulting in a net pre-tax profit of £4.5 million.
The company employs more than 450 people at its Stirling head office and divisional offices in Glasgow, Belfast, Newcastle, Sheffield, Milton Keynes, Swansea and London.
Ogilvie Fleet enjoyed another year of growth with an expansion of its client base across the UK. The fleet size increased by 14 per cent to 15,000 vehicles, consolidating the company’s position as a top 20 vehicle contract hire company.
Turnover and profit improved at Ogilvie Construction, despite the postponement of some leisure projects in north-east Scotland due to the downturn in the oil and gas sector.
The company has said its range of expertise across several different sectors, including leisure and student accommodation, combined with a wide geographic footprint, operational efficiency and a strong order book, leaves it well placed to achieve controlled growth next year.
Ogilvie Homes has seen steady and sustainable growth and sale prices in the housing market improved slightly although the firm said this has been reliant on the Help to Buy scheme.
During the course of the year Ogilvie Communications successfully transitioned into the Net-Defence brand, with a focus on providing IT and cyber security solutions to corporate clients. This new approach is expected to return the company to profitability next year.
A downturn in the surveying market, particularly in roads and waterways, impacted the group’s surveying business, Ogilvie Geomatics, however the market is now showing significant signs of recovery.
Duncan Ogilvie, chief executive of the Ogilvie Group, said: “Last year was a period of steady progress based on a solid performance and the group is well positioned to build on this position and maintain growth in the year ahead.
“Our focus is to maintain the long term success of the business with continued investment in skills and an unrivalled commitment to customer service.”
Focus is to maintain the long-term success of the business