Turnover doubles in 12 months for Glasgow firm
Construction group Tusk saw turnover double last year and is predicting another hefty jump in the coming 12 months as it extends its reach across Scotland and England.
Jointly owned by managing director Rory Kennedy and construction director Freddie King, Glasgow-based Tusk made a profit of about £500,000 during the year to 31 March on sales of £6.9 million. The company has secured a further £3m of work during the first two months of the current year, putting it on course to £10m.
Set up ten years ago, Tusk started life as a single mini-digger operated by Kennedy. From its core base in civil engineering and groundwork, it has expanded to employ 70 people across operations spanning electricals, energy contracting and property development.
“We are poised to hit £10m this year,” Kennedy told the Scotsman. “We would like to go to £20m in the next three to four years.”
The company has grown through the downturn, with clients such as Scottish Water, hit annual sales of Asda and Severn Trent taking it beyond its Glasgow stronghold. It is now active on sites from Liverpool and Middlesbrough up to Inverness and Aberdeen.
The firm has also spent heavily on IT, new equipment, training and accreditation. This has limited profitability in the short-term, but Kennedy believes investment has been key to Tusk’s success.
“Part of the reason we are growing is because customers come to us after they have been let down by other competitors,” he said. “We do what we say we are going to do, and deliver on our promises.”