Profit falls but Malcolm Group hails a ‘robust performance’

LOGISTICS and construction firm the Malcolm Group has reported a dip in turnover and profit, writes Brian Donnelly.

The company, based in Linwood, Renfrewshire, said in results released yesterday that group turnover was

£213 million for the year ended in January, against £226m the previous year.

The operating profit for the firm before exceptional items was £9.9m, compared to £10.4m last time.

WH Malcolm, the subsidiary handling the vast majority of the construction and logistics business, had turnover at £200m, against £207m the previous year, and operating profit before exceptional items was £9.7m, against £10.4m previously.

Group chief executive Andrew Malcolm said the construction services and waste management division performed well despite lower activity levels. He said the group operating profit was “a robust performance in the face of competitive trading conditions in both sectors”.

He added: “The group continued its strategy of investment for the medium to long term by adding £17m of capital expenditure during the year.

“Going into the new financial year, results in both the logistics and construction services divisions in the first few months are in line with our expectations.

“With net debt at January at £10m compared to £12m