Scottish civil engineering specialist, Kilmac, has returned increased profits and cash reserves in its latest financial results, amid a “highly competitive” trading environment.
Turnover for the year ended 30 September 2024 rose to £29.9 million from £26.5 million the year prior, generating a pre-tax profit of more than £2.4 million, from £1.7 million in FY2023.
The civil engineering contractor’s revenue increased by £3.36 million in the financial period, delivering a gross profit of 31 per cent, up from 27 per cent the year before.
“The construction industry and general business environment in which the company operates continues to be highly competitive,” said Kilmac.
“The directors are aware that the future performance of the company will be directly affected by circumstances prevailing in the UK economy but believe that the good flow of future work and constant assessment and review of costs, will ensure future prosperity of the business.”
The Dundee-headquartered company declared operating profit for the year of £2.4 million, compared to £1.7 million in the previous financial period.
At the year end, Kilmac had net assets worth £717,450 (FY2023: £413,219), with improved cash reserves of £3.4 million, compared to £3.3 million in 2023.
Kilmac declared profit for the year of £1.8 million, compared to £1.3 million the year period.
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