Scottish contractor and house builder the Cruden Group has seen turnover top £200m for the first time.
The company enjoyed its 18th consecutive year in the black as pre-tax profits hit £10.4m for the year to March from £7.5m last time as turnover increased to £200.6m from £154.2m.
The company specialises in developing and building homes with the construction operation accounting for £160m of turnover – up 18%.
The division’s key market is the construction and refurbishment of residential housing for clients in the public sector
Kevin Reid, Cruden Group Managing Director, said: “I’m very pleased to report that 2017 has been a fantastic year for Cruden, delivering the Group’s highest turnover and profit in its history.
“To have had eighteen consecutive years of profitable trading is a wonderful achievement, especially against the challenging economic backdrop we’ve had in recent years.
“The Group board is delighted with the strong performance of the business, and we look towards our 75th anniversary next year with optimism. We fully expect our business to continue to grow sustainably in the years ahead.
“In terms of residential sales, business remains encouraging in this area as a result of the suitability and affordability of many of our homes for first time buyers, along with our team’s expertise in providing guidance and support to this market sector.
“The continued availability of Help to Buy (Scotland) has also been beneficial to our first time purchasers.
“Training and skills development is a key focus within the Group, so it is also fantastic news that we have continued to retain in excess of 50 apprentices on our books – this will provide a pipeline of skilled and talented employees for the future.”
from Construction Enquirer http://www.constructionenquirer.com/2017/09/27/record-results-see-cruden-group-top-200m-turnover/
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