Duncan Ogilvie

Latest results from Stirling-based Ogilvie Group show the company increased profits by eight per cent despite a £31 million drop in turnover .

The group, which has headquarters in Glasgow Road, had turnover in the 12 months to June 30 this year of £238 million, excluding joint ventures, and recorded a pre-tax profit of £5.8 million.

That represents an profits increase of £500,000 on the previous 12-month period when turnover was £269 million.

Ogilvie’s, founded in 1953 as a construction company, has since diversified into other areas including vehicle contract hire, technology and surveying, and has a workforce of 550 in 12 locations across UK.

The latest results also showed Ogilvie Fleet continued to grow its client base across the UK with the fleet size increasing by 13 per cent to over 18,200 vehicles, consolidating the firm’s position as a top 20 vehicle contract hire company. Ogilvie also acquired Scorpion Vehicle Management in January of this year.

A company spokesman said Ogilvie Construction had delivered a “strong” financial performance in a slow market environment but was now seeing a significant improvement in its order book.

Ogilvie delivers projects across private and public sector and has a strong presence in hotel, leisure and student accommodation markets.

The company is currently constructing, on behalf of private equity and property management firm Maven Capital Partners, an £18.2 million student accommodation block on the corner of Forthside Way and Shore Road, Riverside. Situated on the banks of the Forth, the development of up to eight storeys will contain 208 flats,

Ogilvie’s has also been working on the conversion of the nearby former barracks, off Forthside Way, into a third-sector hub, for Stirling Council and Robertson Trust.

Ogilvie Homes has, said the spokesman, achieved steady growth over the year in line with its business plan as private house sales and average selling prices continued to improve.

Despite a drop in overall group turnover last year the increase in profit demonstrates the efficiency of our business processes during a very solid performance