A MARQUEE and tent hire business has blamed a 19 per cent dip in profits on a lack of major one-off events but has forecast a large rise in its current trading year.

Field and Lawn (Marquees) said it had benefited from the London Olympics and Queen's Jubilee celebrations in 2012 but there had been nothing of that scale in the most recent financial year.

In accounts recently filed at Companies House the company indicated it expects to benefit in the current trading period as it already had contracts in place for the Commonwealth Games in Glasgow and the Ryder Cup golfing match at Gleneagles.

While turnover increased one per cent from £5.58 million to £5.63m in the 12 months to January 31 this year pre-tax profits fell from £603,648 to £486,889.

Company founder Cameron Stewart said the business had deliberately invested in additional stock last year in preparation for what it knew was going to be a busy 2014.

He said: "We have had a good run the last five years when others haven't, so one slightly reduced profit is not something I am sore about."

The company, which has its headquarters in Broxburn, West Lothian, indicated it expects to benefit in the current trading period thanks to contracts for the the Commonwealth Games in Glasgow and the Ryder Cup golf tournament being held at Gleneagles next week.

Field and Lawn provided overlays for the polyclinic medical services area in the athletes' village in Glasgow as well as marquees and temporary structures at venues including the Sir Chris Hoy Velodrome, the Emirates Arena and the Tollcross International Swimming Centre.

The company mentions on its website it will also be providing structures at the Ryder Cup ranging from temporary shelters to bus stops.

It is also involved in other events related to the Ryder Cup including some of the entertainment held at the SECC and Hydro arena in Glasgow.

This year Field and Lawn has also deployed equipment at the London Marathon, the Tour of Britain cycle race, the Tour de France stages in Yorkshire and a number of music festivals around the UK such at T in the Park.

Mr Stewart said: "We will expect to double our profits this year. I will be disappointed if we don't."

Mr Stewart confirmed the business has also moved successfully into hanging Christmas street lights in order to help it through the quieter winter months.

He said: It is our fourth year now [of doing it] which has meant winter turnover for us. Historically that has been a problem as work is just not there in marquees.

"Now we do Oxford Street in London and have just won Bond Street.

"Quite a lot of it is down south but we do Aberdeen and George Street in Edinburgh."

The accounts state the business paid more than £431,000 to buy back its own shares during the financial year.

There was £60,000 of that which went to purchasing shares from the trustees of the Ian Osborne Stewart Trust while £371,605 was paid to Leonard Gow, who stepped down as a director in May last year.

Average staff numbers increased by five to 84 with employee costs rising slightly from £2.25m to £2.28m.

Directors' emoluments in the year moved upwards from £336,413 to £352,938 with the highest paid seeing their remuneration and pension contributions fall from £165,605 to £156,034.

Meanwhile, net debt widened from £1.53m to £2.1m in the financial year.

The company also has branches in Bristol, Manchester and London.

Mr Stewart added: "London is really just a sales office but we do a lot of work in London and we see growth there.

"When we do a big event like the London marathon then we take teams of people down from Manchester and Bristol.

"So we wouldn't rule out possibly expanding into a depot in London somewhere. The market conditions are getting to the right place for us."