Timber firm’s landmark

Timber supplier James Donaldson & Sons has defied tough trading conditions to break through the £100 million sales barrier for the first time in its 152-year history.

The Fife-based firm, which runs a sawmill in Leven along with a chain of timber merchants and a hardwood supplier in Buckinghamshire, saw turnover for the year to March rise 8.2 per cent to £105.3m. Profits were largely flat at just over £2m.

Executive chairman Neil Donaldson said: “Excellent cash flow management has reduced our net debt to just £2m, which equates to a record low gearing ratio for the group of 12 per cent.

“This was a very solid performance given the difficult trading conditions and margin limitations.”