Fergusson Group, the Stirling-based coal distributor, says it is confident of continuing growth after posting pre-tax profits of £2.7m, more than three times the 2007 level.

Fergusson Group, the Stirling-based coal distributor, says it is confident of continuing growth after posting pre-tax profits of £2.7m, more than three times the 2007 level.

The group, jointly owned and managed by brothers Tom and Alan Fergusson, acquired a further five coal merchants during the year to add to the 60 acquisitions of the past two decades in which turnover has grown from £500,000 to £55m - though it hit £64m two years ago.

In the current financial year the business has invested more than £1m on plant and coal processing equipment for its processing plant at Hunterston deepwater terminal. The Ayrshire facility opened in 2000 and has recently been secured on an extended 15-year lease. A further £400,000 has been invested in new machinery for the group's pre-pack division.

Fergusson Group has secured a record order book to supply 2.5 million tonnes of coal across all of its supply sectors.

The Fergusson brothers said: "These are strong results which reflect our strategy of diversifying the business into new market sectors.

"The group continues to expand across its core operations supplying the domestic and power markets as well as a cross-section of industry throughout the UK."

Fergusson Group directly employs 200 people.