Scotland business

Profits and turnover up at Malcolm Group haulage firm

Malcolm Group digger
Image caption The firm said it was "well positioned" to take advantage of new opportunities

Scotland's biggest haulage firm has reported a slight increase in turnover and profit.

The Malcolm Group has seen turnover for the year to last 31 January rise from £190.3m to £192.4m.

Pre-tax profits went up from £4.9m to £6.5m.

Within the group, the logistics division saw an increase in activity, with trading profit up 5%, while construction services and waste management reduced.

The family-controlled firm, which has its head office in Renfrewshire, invested £14m, pushing net debt up to £22m, from £19m. That followed a renewal of the Malcolm Group's banking facilities lasting until October 2017.

The accounts said that financing base means the group is "well positioned to take advantage of new business opportunities".

Chief executive Andrew Malcolm added: "This provides a strong financial platform for the Group to further develop the business in the medium term."

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