Ogilvie Group sees boost as vehicle rental arm grows

RESULTS: Cyber security also viewed as an expanding market of extreme importance

Turnover at family-owned Ogilvie Group saw a jump of more than 7% as it continued to deliver construction projects across Tayside.

Based in Stirling, the group has a diverse portfolio of divisions, delivering car and light commercial vehicle hire, a house building arm, an IT and cyber security division and a construction division with a strong performance in the hotel and student market accommodation sectors.

As well as a surveying division, the group also includes a vehicle accident management business based in Lincoln.

Group turnover increased from £236.9 million in 2018, to £254.3m for the year ending June 30 2019.

Pre-tax profit at the group remained in line with the previous year at £5.7m.

Ogilvie Homes has a number of projects across Tayside, including developments at Claver Mill in Dundee, Kingsbarns near St Andrews, and Crossgates near Dunfermline.

However, the house-building arm had been hit by delays in the intended purchase and commencement of new developments.

This had brought a reduced number of outlets, an overall reduction in sales. This saw the division’s turnover fall from £31.3m, to £28.9m.

In his strategic report to the accounts, director John Watson said Ogilvie Construction had delivered a “steady financial performance from 10% increase in turnover” and a forward order book of £150m.

Construction revenue increased from £55.9m in 2018 to £62.1m last year.

Turning to the vehicle rental arm of the group, he said: “The fleet has grown by 7% to more than 19,500 vehicles which consolidates its position as a top 20 UK vehicle contract hire company.

“Full maintenance contract hire to the upper SME market still provides the majority of the company’s business, although there has been strong growth within the larger corporate sector,” he added.

Turnover for the group from vehicle contract hire and insurance claim handling rose from £139.1m, to £153.9m over the accounting period.

Staff numbers at the group fell by 57, to 577, with 135 employed in construction and 442 in other roles including sales, administration, management and technical positions.

The wages and associated costs bill came to £25.5m for the period.

Net assets of the group rose by £4.1m, to £54.8m.

Founded in 1953, the group has offices throughout the UK as well as trading partnerships with organisations across Europe.

Ogilvie previously secured the contract to add an extension to the golf centre at Carnoustie.