Scott Cairns.

Scott Cairns.

Donaldson turnover nears £100m

Published:  30 August, 2011

FIFE: James Donaldson & Sons has announced its end of year results, with turnover up by 20% to almost £100m.

Turnover for the year to March 2011 reached £97.3m, with the company achieving a profit before tax of £2.018m; up 228% from last year’s figures.

Excellent cash flow management has also reduced net debt to just £1.25M, which equates to a record low gearing ratio for the Group, of just 18%.

Executive chairman of the Donaldson Group, Neil Donaldson comments: “It is very pleasing to report that our turnover almost made the £100M mark, and we’re delighted to have performed so well when trading conditions remain incredibly challenging. 2010/11 was a huge year for us, as we celebrated many milestones within the company - notably our 150th anniversary and the appointment of Scott Cairns as managing director.”

Commenting on the trading operations for the year Mr Cairns said: “2010/11 was truly a year of ‘two halves’ in terms of market activity. April to September saw trade reach its strongest level for several years; however, October to February was among the hardest trading months I can recall. Nevertheless, March 2011 saw a positive seasonal swing, and it was welcoming to see all of the subsidiary businesses finishing off the year on a high note.”

All four subsidiary companies within the Donaldson Group outperformed from last year. Hardwood specialist Parker Kislingbury delivered a strong performance with a modest rise in sales; engineered wood products manufacturer Donaldson Timber Engineering saw a return to profitability following two years of losses, and both timber merchant MGM Timber (Scotland) and timber importer and processor James Donaldson Timber returned record sales and strong profitability.

Sign Up

For the Builders' Merchants News enewsletter.

In the spotlight

We have vacancies all over the UK for those who work within the Building Supplies sector.

Events Diary