Profits more than treble at Highland business Pat Munro (Alness)
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Pre-tax profit at a multi-faceted Alness firm more than trebled last year.
Turnover for Pat Munro (Alness) - which is an expert in quarrying, concrete manufacturing, civil engineering contracting, housebuilding, haulage and waste management - increased by more than £12 million for the year ended March 31, 2022.
A strategic report accompanying the firm’s latest accounts stated: “Through the maintenance of a strong asset base and financial position, the directors consider that the group is well placed to meet challenges and take advantage of business opportunities in the future.
“The group values the experience, expertise and commitment of its workforce which has been a key factor in the group‘s growth since its foundation in 1945.
“The group prides itself on providing job opportunities and career progression to local people in all of its operational areas.”
Turnover increased from £19,402,281 in 2020/21 to £32,072,712 for the following year.
For the same period, a pre-tax profit of £456,413 rose to £1,739,415.
The report added: “The group’s track record of profitability and maintaining a strong asset base place it in an ideal position to grow its business in a structured and controlled manner.
“The commercial environment has remained competitive in 2021/22 and is expected to do so beyond.
“In addition, the ongoing economic changing landscape is likely to result in greater uncertainty in the short term. However, the directors remain confident that the diverse nature of the group will continue to provide new opportunities to enhance the business, and to widen its customer base.”
The average number of employees dipped from 200 in 2020/21 to 198 last year, while staff costs went up from £7,606,145 to £8,675,942.
