MCGILL’S Buses has posted a pre-tax annual profit of £1.4 million, up from £384,000 the previous year, despite a four per cent drop in turnover.
The Greenock-based company, which employs about 800, booked a turnover of £38m in its annual results for year ending December 30, 2018, against £39.5m the year before.
James Easdale, McGill’s chairman, said: “Our profits are up thanks to a realignment of our business and skilful management of our resources and a 27% decline in our administration charges.
"My brother and fellow shareholder Sandy and our MD, Ralph Roberts, have worked extremely hard to make this business more efficient and profitable.”
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Mr Easdale added: “The year saw a continuation of passenger decline that has prevailed in the industry since 2015.
"The decline was driven by low retail activity brought on by the decline of the high street.”
Sandy Easdale called for greater government investment in infrastructure as the firm unveiled its figures, adding: “We need more bus shelters, more parking management and better road works management which will contribute to healthier and wealthier lives for the public.”
McGill’s Bus Service Ltd is owned by Arranglen Ltd, the investment vehicle of the Easdale family.
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