Firm exceeds turnover target

A FIFE firm that supplies steel to some of the UK’s biggest railway infrastructure projects achieved a target-beating turnover of £23.5 million last year.

Pipe & Piling Supplies (PPS) was focused on bringing in revenue of £20m in the 12 months to February but the actual total was significantly higher and represented a near 70% rise from the previous year’s £13.9m. Pre-tax profit was 76% higher at £1.8m.

Managing director Alistair Cochrane, who led a management buy-out of the Glenrothes-based company a year ago, said its turnover was driven by its relationship with key customers.

During the year it supplied steel to the Edinburgh Glasgow Improvement Programme (EGIP), the £742m package of modernisation and upgrade works by Network Rail for key junctions, infrastructure and widespread electrification of the main line between Edinburgh and Glasgow and to Stirling and Dunblane.

PPS also sent steel to the £2.8 billion Great Western Electrification Project to transform the railway network from London Paddington to South Wales and to Cornwall.

In the previous year, the firm supplied steel for the new station at Canary Wharf due to open in 2018 as part of the London Crossrail Project.

Mr Cochrane said the high level of revenue would not continue with the ending of the involvement of PPS in the latest year’s construction projects.

However, he said profitability was expected to be maintained.