Leven timber specialist James Donaldson & Sons Ltd has increased its pre-tax profits in the last year to over £2 million.
Turnover for the year to March 2013 remained static at £105m, but an improvement in margin and efficiency gains helped increase profit before tax by 8.4 per cent, to £2.2m.Executive chairman of the Donaldson Group, Neil Donaldson, said: “To raise profitability by 8.4 per cent in challenging market conditions is a particularly commendable achievement. Our borrowings remain low and we have managed to grow net assets to £18m.”
On the trading operations for the year, group managing director Scott Cairns said business had made considerable progress, despite low housing starts and poor general construction activity.
“All core trading companies within the group have grown market share in the year,” he said. “ In particular, MGM Timber Scotland Ltd and Donaldson Timber Engineering Ltd exceeded expectations and produced market leading performances, a magnificent accomplishment. James Donaldson Timber Ltd produced a strong result out of its site in Leven.”