ONE of Scotland’s biggest independent construction businesses has announced a turnover of £188.6 million.
The Cruden Group also revealed pre-tax profit of £9m (£10.5m in 2017) as part of its audited results up to 31 March 2018.
The Cruden Group specialises in providing high quality housing, both for sale and rent.
The company’s net assets have increased to £44.7m (£41.6m in 2017).
The average house sale value increased to £270,000 (£226,000 in 2017) due to the diverse range of homes settling.
The group’s turnover was £200.6m in 2017 and the group says this can be attributed to the lower volume of private homes sold by the group in the year – falling to 158 from 280 in 2017. The business predicts this number will exceed 220 in the year to 31 March 2019.
Kevin Reid of Cruden Group said: “To have had nineteen consecutive years of profitable trading is a tremendous achievement, especially against the challenging economic backdrop we’ve had during this period. Despite unsettled economic conditions, demand in the housing market remains encouraging and we continue to see strong interest in our diverse range of quality, affordable and energy efficient family homes.”
To tackle the industry’s ongoing skills shortage, the firm has increased its Modern Apprenticeship Programme to 90 employees, creating a network of skilled workers for the future.
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