Easter Ross construction firm posts increase in pre-tax profits
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Pre-tax profit more than trebled for an Alness construction firm last year.
It came despite a drop in turnover for William Munro Construction (Highland) in the year ending September 29, 2019.
The firm also has expertise in civil engineering, waste management services and disposal, quarrying, haulage and is a hotelier.
A strategic report accompanying the firm’s latest accounts stated: “The Group continues to increase business with local authorities and commercial clients, while simultaneously focusing on the development of its owned commercial landbank and properties.
“The directors are confident that the wide mix of services that the group has to offer will ensure its continued success going forward. The directors continue to assess the strategic position of the group with regards to the type of business the group engages in over the short to medium term.”
Pre-tax profit increased from £31,284 in 2018 to £109,543 last year. For the same period, turnover dropped from £5,037,421 to £4,652,113.
The report stated the firm’s future plans include further reducing the amount material sent to landfill and an increase in recycling, as well as expansion of its quarrying and concrete division.
The average number of employees dipped from 60 last year to 59, while staff costs dropped from £1,340,333 to £1,259,894.
With regard to the pandemic, the report added: “The group continues to incur certain direct costs and overheads while income levels have been reduced, significantly in construction and demolition related activities, and the directors are satisfied that the group has sufficient funding arrangements in place to be able to continue to meet costs as they fall due.
“The anticipated social distancing requirements in the light of Covid-19 not expected to significantly impair the group’s ability to trade and management are assessing and implementing appropriate procedures and policies to ensure the group comply with sector specific and general government guidance.”
