Ogilvie Group poised to build on jump in profits
Stirling-based conglomerate Ogilvie Group, whose operations include construction and fleet hire, said it is poised to sustain growth this year after a double-digit jump in profit for 2016.
However, the year saw some differing in fortunes across its operations, which also encompass homes, surveying and communications.
The family-owned business, which has divisional offices in Edinburgh and Glasgow, reported a 12 per cent year-on-year increase in profit to £4.5 million, while group turnover excluding joint ventures amounted to £207.6m.
Chief executive Duncan Ogilvie said: “Last year was a period of steady progress based on a solid performance and the group is well positioned to build on this and maintain growth in the year ahead.
“Our focus is to maintain the long-term success of the business with continued investment in skills.”
The group also highlighted an improvement in turnover and profit at Ogilvie Construction, in spite of some leisure projects in the North-east being put on hold due to the oil and gas downturn. However, the unit is “well-placed to achieve controlled growth next year”, bolstered by factors such as a robust order book.
Turning to Ogilvie Fleet, which covers contract hire and leasing, this experienced a further year of growth, expanding its client base across the UK. Its fleet size grew by 14 per cent to 15,000 vehicles, with growth in the division forecast to continue over the next five years.