Steady progress at construction firm
Ogilvie Group ‘well positioned for growth’
Ogilvie Group, the construction and logistics company, achieved a solid performance in 2016 with a 12% increase in pre-tax profit to £4.5 million on group turnover, excluding joint ventures, of £207.6m.
Ogilvie Fleet enjoyed another year of growth with an expansion of its client base across the UK. The fleet size increased by 14% to 15,000 vehicles, consolidating the company’s position as a top 20 vehicle contract hire company.
Tight controls on maintenance costs, well managed disposals, along with a strong used car and van market and savings on finance costs have underpinned a solid performance. Growth is expected to continue over the next five years.
Turnover and profit improved at Ogilvie Construction, despite postponement of some leisure projects in the North East due to the downturn in the oil and gas sector.
It says it is well placed to achieve growth next year.
Ogilvie Homes has seen steady and sustainable growth and sale prices in the housing market improved slightly, although this has been reliant on Help to Buy.
The company has secured planning status on a number of its options sites, which will enhance the land bank for the future.
During the course of the year Ogilvie Communications successfully transitioned into the Net-Defence brand, with a focus on providing IT and cyber security solutions to corporate clients. This new approach is expected to return the company to profitability next year.
A downturn in the surveying market, particularly in roads and waterways, impacted the group’s surveying business, Ogilvie Geomatics. However, the market is now showing significant signs of recovery.
Duncan Ogilvie (pictured), group chief executive, said: “Last year was a period of steady progress based on a solid performance and the group is well positioned to build on this position and maintain growth in the year ahead.
“Our focus is to maintain the long term success of the business with continued investment in skills.”