CBC Construction weathers storm

CBC Construction, the Glasgow-based property development and building group, saw its financial performance hold up well last year despite tough times in the sector.

The company — which includes Central Building Contractors (Glasgow) and CBC Property Maintenance — said turnover dipped by 5 per cent in the year to 30 September, 2009 to 62.6 million, with operating profits down slightly at 2.7m from 2.9m the previous year.

Lower income from fixed asset investments and interest reduced the pre-tax profit figure to 2.6m from 3.8m. The group's net assets increased by 250,000 to 23.25m and the company said it expected to see a further improvement this year. The highest-paid director received 562,000, down from 854,000.

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In their directors' report the company, which employs 250 people, said it had been another "successful year with all divisions progressing". Despite market conditions, the current order book was described as encouraging. Founder and chairman Sir Jack Harvie is one of Scotland's more colourful entrepreneurs. He spent a reported 1m on his 70th birthday celebrations in Milngavie in 1996, with appearances by Dionne Warwick and Acker Bilk. He has also been a regular donor to the Conservative Party and to charity.