Thursday, August 29, 2013
James Donaldson & Sons Ltd has announced its end of year results. Turnover for the year to March 2013 remained static at £105m but an improvement in margin and efficiency gains helped increase profit before tax by 8.4 percent to £2.2m.
Executive Chairman of the Donaldson Group, Mr Neil Donaldson comments:
“To raise profitability by 8.4 percent in challenging market conditions is a particularly commendable achievement. Our borrowings remain low and we have managed to grow net assets to £18m.
In addition, we have further strengthened our service offering by investing £1.2m in new machinery at our Chorley sawmill site and continue to look for opportunities in the market to help expand our product range.”
Commenting on the trading operations for the year, Managing Director of the Donaldson Group, Scott Cairns said:
“Our business made considerable progress during the year despite a combination of low housing starts and poor general construction activity. All core trading companies within the Donaldson Group have grown market share in the year. In particular, MGM Timber Scotland Ltd and Donaldson Timber Engineering Ltd exceeded expectations and produced market leading performances, a magnificent accomplishment.
James Donaldson Timber Ltd produced a strong result out of its Scottish site in Leven, Fife whilst the £1.2m investment in new machinery at our Chorley sawmill site in England will significantly improve capacity and production efficiency in the year ahead.
James Donaldson & Sons Ltd has announced its end of year results. Turnover for the year to March 2013 remained static at £105m but an improvement in margin and efficiency gains helped increase profit before tax by 8.4 percent to £2.2m.
Executive Chairman of the Donaldson Group, Mr Neil Donaldson comments:
“To raise profitability by 8.4 percent in challenging market conditions is a particularly commendable achievement. Our borrowings remain low and we have managed to grow net assets to £18m.
In addition, we have further strengthened our service offering by investing £1.2m in new machinery at our Chorley sawmill site and continue to look for opportunities in the market to help expand our product range.”
Commenting on the trading operations for the year, Managing Director of the Donaldson Group, Scott Cairns said:
“Our business made considerable progress during the year despite a combination of low housing starts and poor general construction activity. All core trading companies within the Donaldson Group have grown market share in the year. In particular, MGM Timber Scotland Ltd and Donaldson Timber Engineering Ltd exceeded expectations and produced market leading performances, a magnificent accomplishment.
James Donaldson Timber Ltd produced a strong result out of its Scottish site in Leven, Fife whilst the £1.2m investment in new machinery at our Chorley sawmill site in England will significantly improve capacity and production efficiency in the year ahead.
Tags: Scott Cairns
