Turnover at James Donaldson & Sons, the Fife-based timber business, nudged £100m to return a headline 228% increase in pre-tax profits.
All four subsidiary companies within the Donaldson Group outperformed the previous year to boost sales 20% to £97.3m for the year to March. Profit rose to £2m from £615,000 the year before, but is still well down on the £3m during the housing boom of 2007-08.
Cash flow management also reduced net debt to £1.25m, a record low gearing ratio of 18%.
“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,” said executive chairman Neil Donaldson.
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