Ogilvie Group aims to build on profits
Stirling-based construction and fleet management firm Ogilvie Group has said it is poised to sustain growth this year after a double-digit jump in profit for 2016.
Net pre-tax profits reached £4.5 million on turnover of £207.6m following expansion of its dominant fleet division and an improved performance by its construction arm. The family-owned group also has smaller communications and surveying businesses.
Chief executive Duncan Ogilvie said: “Last year was a period of steady progress based on a solid performance and the group is well positioned to build on this and maintain growth in the year ahead.
“Our focus is to maintain the long-term success of the business with continued investment in skills.”
The group also highlighted an improvement in turnover and profit at Ogilvie Construction, in spite of some leisure projects in the North-east being put on hold due to the oil and gas downturn.
However, the unit is “well-placed to achieve controlled growth next year”, bolstered by factors such as a robust order book.
Turning to Ogilvie Fleet, which covers contract hire and leasing, this experienced a further year of growth, expanding its client base across the UK.
Its fleet size grew by 14 per cent to 15,000 vehicles, with growth in the division forecast to continue over the next five years.
Ogilvie Homes also posted steady growth as sales prices in the housing market improved slightly on the back of the Scottish Government’s Help to Buy scheme. It has planning approval on a number of its options sites, and is planning to add to its land bank.