Profits up at Ross-shire firm Pat Munro (Alness)
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TURNOVER and profit increased for a growing Ross-shire firm last year.
Directors at Pat Munro (Alness) were satisfied with the business’ financial performance for the year ended March 31, 2019.
The principal activities of the company during the year were quarrying, manufacture of concrete, manufacture of road-stone products, civil engineering, contracting, housebuilding, haulage and waste management.
In December 2018, it incorporated Carbon Dynamic (Scotland) as a subsidiary, through which it is now trading in the design and manufacture of low-energy timber modular buildings.
A strategic report accompanying the firm’s latest accounts stated: “The directors are satisfied with the profitability and net asset growth achieved during the year. The company continues to operate throughout the Highlands and Islands and prides itself on providing high-quality products and services to a wide range of customers.
“The directors are committed to maintaining and enhancing the company’s operating assets and vehicle fleet.
“Through the maintenance of a strong asset base and financial position, the directors consider that the company is well placed to meet challenges and take advantage of business opportunities in the future.
“The company values the experience, expertise and commitment of its workforce which has been a key factor in the company‘s growth since its foundation in 1945. The company prides itself on providing job opportunities and career progression to local people in all of its operational areas.”
Turnover increased from £18,207,978 in 2018 to £22,177,651 last year.
For the same period, pre-tax profit moved from £1,253,104 to £2,051,131.
The report added: “It is recognised that there remains economic and political uncertainty following the decision of the UK to leave the European Union, which may lead to a more challenging environment in the short to medium term.
“However, the directors will continue to monitor the situation closely and identify new opportunities for the company over the years ahead.”
It went on: “The company’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 is expected to remain competitive in 2019/20.
The average number of employees dropped from 173 in 2018 to 171 last year.
