SCOTTISH construction and haulage group Maxi Caledonian has posted a dip in annual profits in its latest financial year, although it achieved strong growth in turnover, writes Ian McConnell.
The group, chaired by Gerry Atkinson, said that its pre-tax profits had fallen to £1.7 million in the year to September 30, 2014, from £2.17m in the prior 12 months.
Pre-tax profits in Maxi's haulage business dipped from £1.84m to £1.4m, as turnover climbed from £47.2m to £52.1m.
Maxi Caledonian said: "Profits remain under pressure particularly in Maxi Haulage as they do throughout the haulage industry with increases [in costs] caused by driver shortages and other inflation and the current inability to increase rates."
Pre-tax profits in Maxi's construction business fell to £316,000 in the year to September 30, from £377,000 in the prior 12 months. The group said construction profits remained "at an acceptable level" in a competitive market-place. Turnover in the construction business rose to £11.37m, from £8.55m.
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