Firm 'delighted' with performance
Esh takes profit hit in year of consolidation
The Livingston-based company saw profits for the year to the end of December fall from £9.5 million to £8.6m on almost standstill turnover of £275million (2014: £277m).
Brian Manning, chief executive, said: “This is a good performance and a credit to the hard-working employees and supply chain partners.
“2015 was always anticipated as a year of consolidation in terms of turnover, given the growth in 2014.
“Profit has been affected by a number of factors, including market conditions, investments in business outside Scotland and costs ahead of a major IT project.”
The Esh share scheme – which already captures more than 180 employees – has delivered significant gains to date and further rewards to management and employees are in place to recognise performance.
Shareholders were also told of work carried out by Esh Charitable Trust and Esh Added Value – the two supporting elements of Esh Group’s community work.
Mr Manning added: “The construction industry is showing signs of sustained recovery, and with our strong cash position, Esh Group is well positioned to lead the new opportunities with our partners once areas such as devolution and the EU are more settled.”
Regional managing director, Simon Phillips (pictured), said: “We have been delighted with the performance of our of Livingston office since opening in March last year.
“Whilst consolidating our position, we are also actively looking to build the business and are targeting new opportunities across the central belt.
“The team has enjoyed a steady pipeline of work…and as a company we are committed to the Scottish market and to growing the business north of the border.”