Housebuilder Mactaggart & Mickel Group Ltd has announced a return to profit and said the use of timber frame homes had transformed its business.
The company recorded operating profits of £7.8m and pre-tax profits of £3.9m with the help of business diversification and cost reductions.
“Out timber systems business is transforming the way we build homes – which are now erected to be wind and watertight in just one day,” said CEO Ed Monaghan.
“Manufacturing off site at our Coatbridge factory saves substantial time and we are able to guarantee supply, providing the group’s businesses with the product they need, when they need it,” he said.
The Coatbridge factory produces standard open panels, a closed panel system and pods.
The group completed 109 homes at an average selling price of £284,000, an increase of 1%.
“We are approaching the year ahead with measured confidence and have a lot of development activity in the pipeline including our role within the City Legacy consortium building the athletes’ village for the Glasgow 2014 Commonwealth Games. Planning has just been granted for 704 homes on site,” said Mr Monaghan.
