James Donaldson & Sons boosted by record engineering division performance

james-donaldson-and-sonsFife-based timber specialist James Donaldson & Sons Ltd has enjoyed a stronger year in the improving housebuilding and construction industry.

Accounts published by Companies House for the year to March 31 2015 revealed that pre-tax profit at the group nearly doubled at £4.52 million from an increase in turnover of 13 per cent at £133m.

The company’s Donaldson Timber Engineering business, which makes roof trusses and distributes a range of wood products, made a record pre-tax profit of £3.879m, an increase of 107 per cent.

Turnover was up 16.1 per cent at £49.6m, reflecting a considerable uplift in demand for products.

Company secretary Ian Hawkins said profit margins had grown from 25.4 per cent to 28.5 per cent and overheads had been well controlled.

“This has been an excellent year for the company,” he said, with a record trading performance, strong balance sheet and comfortable funding availability.

James Donaldson Timber Ltd, which operates importing, sawmilling and preservation activities and makes MDF products, recorded a pre-tax loss of £185,000.

The figure was 73 per cent worse than the previous year, and Mr Hawkins said the performance was due to problems at the Brill site in Buckinghamshire.

Its loss was more than five times worse at £953,000, but the other sites at Leven and Chorley in Lancashire had performed well and contributed to the firm’s turnover rising by 16.7 per cent to £48.6m. MGM Timber’s pre-tax profit was up 24.3 per cent at £1.678m from a turnover up 5.5 per cent at £40.9m.

James Donaldson Insulation’s pre-tax profit was more than four times higher at £46,000 from a turnover up 27.6 per cent at £3.5m.

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