Group Turnover £65.1m
Group Profits up 35% to £2.59m
Maxi Caledonian Ltd. is the ultimate holding Company of Maxi Group Ltd., Maxi Haulage Ltd., Maxi Warehousing Ltd. and Maxi Construction Ltd. We therefore report on the consolidated position of these Companies at 30th Sept. 2016, all of whose Accounts have now been lodged at Companies House.
Turnover and profits are up at Maxi Haulage Ltd. Operating a large fleet with over 600 trailers from multiple locations in the UK and Ireland, providing high quality haulage, warehousing and distribution services with added value.
From their HQ in Livingston, Maxi Construction Ltd profits are up and have a strong order book. Providing quality construction work throughout Central and Southern Scotland and further afield.
With the continued great help, loyalty and support of our customers, clients, design teams, staff, subcontractors and suppliers we have achieved another good year for which we sincerely thank you all.
The Group profitability rose from £1.92m to £2.59m with Maxi Construction rising slightly and Maxi Haulage increased 58% to £2.29m.
The following period has put Haulage related profits under pressure due to driver shortages and significant cost increases, particularly shipping, which have not been recovered, action is being taken to address this problem. The industry is entering a difficult period for which we are well prepared and this will create opportunities for our specialist skills. Investment in new trucks and trailers will increase during the following period to maintain our modern fleet with significant additional trailer capacity.
Maxi Construction continues to be competitive in the market place and has new contract awards which will follow through 2017 into 2018 whilst still strictly following a policy of not taking uneconomic work.
During the period, Maxi Construction have been awarded a wide variety of contracts, including the refurbishment of the Grade A listed Panmure House for Edinburgh Business School, several refurbishment projects for the University of Edinburgh, a new Administration & Welfare block for South Ayrshire Council, along with our other local authority, industrial and commercial work.
We are delighted that some of our projects continue to be recognised at various award ceremonies. The Botanic Cottage in Edinburgh was the overall winner of the Scottish Civic Trust My Place Award 2017 and Glasgow Women’s Library continued its run of success at the GIA (The Glasgow Institute of Architects) Design Awards 2016, The Herald Property Awards for Scotland 2016 and the RIAS (The Royal Incorporation of Architects in Scotland) Awards 2016.
The Group’s strength is founded upon our very strong balance sheet, coupled with no borrowings and significant reserves allowing us to continue to finance our growth from a position of strength.
In summary, for the next period, we expect further growth of the Haulage division and an increase in turnover in the Construction division to get back to previous levels with all divisions remaining profitable but in challenging times.
Further information on Maxi Group can be found on the website http://www.maxigroup.co.uk