Recovery in key markets fuels Malcolm Group

Andrew Malcolm said growth 'augurs well for year ahead'. Picture: Robert Perry
Andrew Malcolm said growth 'augurs well for year ahead'. Picture: Robert Perry
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Logistics, construction and waste management company Malcolm Group has enjoyed another year of steady growth with further increases in activity levels also seen during 2014.

For the financial year ending 31 January, the group saw turnover edge up by 0.5 per cent to £193.3 million with profit before tax rising 2 per cent to £6.7m.

Its construction services and waste divisions recorded a small increase in activity levels reflecting what Malcolm described as the slight improvement in trading conditions experienced in the sector following several challenging years. Logistics saw a similar performance to the previous year.

Group chief executive Andrew Malcolm said the first few months of the new financial year had seen growth in logistics and construction “which augurs well for the year ahead”.

The Linwood-based group continued its strategy of investment for the medium to long term by adding £12.5m of capital expenditure during the year.

Net debt at 31 January of £19.7m was 10 per cent lower compared than a year earlier.

“After significant capital expenditure, the group remains well positioned to take advantage of new business development opportunities,” added Malcolm.

Staff numbers dipped to 1,872 from 1,920 and the highest paid director, presumed to be the chief executive, saw his pay package virtually unchanged at £462,381.

The group’s logistics division operates more than five million square feet of warehouse space spread over ten sites. Its construction arm includes synthetic sports pitch firm Charles Lawrence Surfaces, paving specialist Woodholme Construction and Pirie Contracts, a specialist contractor in roadworks and civil engineering.

Its waste business handles more than two million tonnes of waste per year ranging from construction to hazardous and contaminated material.

The Malcolm Group was listed on the stock market for 45 years until 2005 when it was taken back into private ownership by the Malcolm family.