CIVIL engineering firm Kilmac has reported pre-tax profits of £1.31 million.
The Dundee-based company increased its turnover by £6.8 million to a record £25.65 million in the year ending September, 2022.
Pre-tax profits for the previous 12 months totalled £1.59m but director Athole McDonald stressed: “We are pleased with our overall trading results, with revenues increasing by 35%.
“The slight drop in operating profit came against a backdrop of material shortages and increasing costs, including the higher wages required to enhance our expanded, high-quality workforce.
“Crucially, Kilmac also took a decisive step towards future proofing the business and preserving our core values by overseeing a successful Employee Ownership Trust in January last year,” said Mr McDonald, who set-up the business with fellow director and Abertay University classmate Richard Kilcullen in 2004.
“While continuity has been assured, 100% of the shares are now owned by the Kilmac Employee Ownership Trust, which will reward our dedicated and hardworking employees in the years ahead.
“Prudent management of reserves and funds built up over the previous year paved the way to these carefully planned structural changes.
“Another major landmark was the decision to look beyond our traditional Tayside and Fife heartlands and opening a satellite office in Mid Calder last year has been fully justified.”
The West Lothian satellite, where 20 members of staff are based, has been progressing various projects, including the University of Edinburgh’s innovative Usher Institute with McLaughlin and Harvey.
Kilmac, which now employs a 160-strong workforce headquartered at Delta House in Dundee’s Technology Park, handles a wide range of civil engineering projects and acts as a leading groundworks subcontractor for commercial and social infrastructure and housing projects throughout Scotland.
The firm has been playing a key supporting role with BAM Construction, the main contractor in the transformation of Perth City Hall into the £26 million Perth Museum, which will be home to the Stone of Destiny.
Other recent large scale subcontracted earthworks projects include working with BAM on the new Dunfermline High School and Blairgowrie Recreation Centre and, with Robertson Construction on Monifieth Learning Campus and Dundee University’s Innovation Hub, and on the £80 million Perth High School development.
Kilmac are also working closely with main contractor Robertson Construction in building Scotland’s first energy efficient Passivhaus primary school in North Perth, on the site of North Muirton Primary School.
“We have quickly established a reputation as specialists in the fast-growing Passivhaus sector and anticipate this will offer scope for further growth,” said Mr McDonald.