Further investment for group
Diversification boost for Ogilvie profits
Duncan Ogilvie: continued investment
Ogilvie Group posted a 16% rise in profits as it continued to benefit from diversification.
The Stirling-based business saw pre-tax profit rise from £4.52 million to £5.35m on group turnover up from £211.4m to £269.4m, excluding joint ventures.
Ogilvie Fleet continued to grow its client base across the UK and the fleet size increased by 10% to more than 16,100 vehicles.
In September the company acquired Cheshire based Tilsun Vehicle Contracts, entering the personal contract hire market, which is the fastest growing area of the leasing market.
Construction delivered another strong performance in the year, increasing revenue and pipeline. A wide geographic footprint, combined with operational efficiency and a strong order book, leaves it well placed to achieve continued growth next year.
Homes has seen steady and sustainable growth as trading conditions improve, with less dependence on substantial incentives, although Help to Buy continues to be popular.
Geomatics expanded with the acquisition of Malcolm Hughes Land Surveyors. In 2018 the brands will be merged to operate as Malcolm Hughes.
Net-Defence has completed its transformation to focus on the provision of IT and cyber security solutions to corporate clients. The company has achieved Cyber Essential Plus certification to audit and accredit businesses which need this Government standard.
The group continued to diversify with the post year end acquisition of Lincoln-based vehicle accident management business, Active Auto Solutions, for £4.6m.
Duncan Ogilvie, chief executive, said: “Last year was a period of steady progress based on a solid performance and recent strategic acquisitions will support our plans for continued growth.
“Our focus is to maintain the long-term success of the business with continued investment in skills.”