John Heaney Electrical Limited (JHE), the Livingston-based electrical, mechanical, and HVAC specialist, has reported its highest-ever turnover, reaching £11.5 million for the year ending December 2024 – a 51% increase on the previous year’s revenue of £7.6 million.
This marks the third consecutive year of record growth for the West Lothian firm, underpinned by a series of major contract wins and robust performance across all departments.
Profits for the year soared to £977,000, up 79% from the previous year, as the company celebrated its 35th anniversary as a limited company. The core electrical division contributed £6.6 million to the total revenue, while the facilities management arm grew significantly from £1.5 million to £2.4 million. The company’s cash reserves also saw a substantial boost, surpassing £1 million and ending the year at £1.9 million, a 305% increase from £470,000.
Managing director Mark Heaney, who has led the company since 2016, expressed his pride in the team’s achievements: “Twelve months ago, we didn’t expect revenues to reach the levels they did and a lot of hard work has gone in by a lot of people to get us into this position… Profit margins were also decent and that allowed us to have a positive increase in cash in the bank at year end.
“We have worked hard to create this solid foundation and the future is looking positive for the company going forward as we look to grow strategically, with a particular focus on new long-term contracts and building partnerships with major retail companies and blue-chip firms.”
The company’s order book remains strong, with several promising projects on the horizon as JHE looks to deepen relationships with existing clients and expand its portfolio.
Staffing levels have remained steady at around 60 employees, with the company emphasising ongoing investment in its workforce. Mr Heaney highlighted the importance of staff development and retention, noting that many employees have been with the business for two or three decades – a testament to the positive working environment and high standards maintained at JHE.
The year also saw the completion of a significant management buy-out, with Mark Heaney acquiring the business from his parents, who founded the limited company in 1990 after seven years as sole traders.
Reflecting on this milestone, Mr Heaney said: “We had been working on the purchase of the shares for two years and it was an important milestone for us when it completed in November.
“The sector hasn’t been without its challenges due to the financial climate and I’m proud of what we have achieved in the years the company has been running.
“We continue to grow and are positioned well to maintain that momentum. Credit to every staff member for the work they have put in and I’d like to give a big ‘thank you’ to everyone in the company, each has played their own part in our success to date.”
With a solid financial foundation, a committed workforce, and a healthy pipeline of projects, John Heaney Electrical is well positioned for continued growth in the coming years.
