timber specialist, James Donaldson & Sons Ltd has announced its end of year results, with turnover up by 20% to almost £100M.
Turnover for the year to March 2011 reached £97.3m, with the company achieving a profit before tax of £2.018m; up 228% from last year’s figures.
Excellent cash flow management has also reduced net debt to just £1.25M, which equates to a record low gearing ratio for the Group, of just 18%.
Executive Chairman of the Donaldson Group, Mr Neil Donaldson said: “It is very pleasing to report that our turnover almost made the £100M mark, and we’re delighted to have performed so well when trading conditions remain incredibly challenging. 2010/11 was a huge year for us, as we celebrated many milestones within the company.”
Commenting on the trading operations for the year, Managing Director of the Donaldson Group, Scott Cairns said: “2010/11 was truly a year of ‘two halves’ in terms of market activity. April to September saw trade reach its strongest level for several years; however, October to February was among the hardest trading months.”