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Year starts well for Murray Capital amid turmoil

David D Murray: encouraged

Murray Capital, the metals, property and wine distribution business, has posted its best set of results in recent times and said the current financial year has started well.

After recording double-digit growth in turnover, profit, and shareholder funds in the year to the end of June, managing director David D Murray, said trading in the first quarter was “encouraging”.

However, he said he is “mindful of the wider economic turmoil and the general sense of nervousness about the year ahead.” 

Profit before tax rose 31% from £9.8m to £12.8m on turnover from continued operations up 11% from £83.5m to £92.8m, driven primarily by increased steel prices in the company’s metals group. Shareholders’ funds grow year-on-year from £35.5m to £43.9m, an annual return of 23%.  

In March last year, Sir David Murray handed ownership to his sons, David and Keith. 

Commenting on the trading performance, David D Murray said: “We are very pleased to post our best set of results for a number of years, although we do so with our feet planted firmly on the ground given the cyclical nature of our businesses and the current economic uncertainties in UK and global markets.

“The performance of the metals business is particularly encouraging, given the investment we made in restructuring that business during 2020.  

“The current financial year has also started well, with encouraging trading results in the first quarter, although we are mindful of the wider economic turmoil and the general sense of nervousness about the year ahead.  

“Being family-owned, with no external third-party debt, allows us to take a long-term and patient view, which we believe will be necessary as the cost of money increases and higher inflation continues to impact the environment in which we operate.

“We remain optimistic though, and will continue to focus on the things we can control and to build on the solid foundations we have developed across the Group over many years.”  

Operational highlights during the year to 30 June 2022: 

Highlights in the three months since the end of June include: 

Murray Capital Holdings continues to provide support to the Murray Family Foundation, which was established in 2017 to make charitable donations to a number of causes at the discretion of its trustees.

The group plans to increase its focus on and contributions to the Foundation during the course of this year and beyond. 

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