Veitchi Group reveals strong financial results with turnover up to £41.55m

The Veitchi Group, one of Scotland’s largest construction industry sub-contractors, has reported a steady rise in turnover and post-tax profits at their 101st AGM.
Turnover to November 2017 for the firm which has its Group headquarters in Cambuslang was up 7% to £41.55 m, whilst Group profits after tax rose 10% to £1.26m.

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Contributing to the improved financial results were several large projects undertaken by Veitchi Flooring.
Contracts totalling £3 million for jobs at the new Dumfries and Galloway Hospital, Perth Theatre, Silver Fin and Marischal Square developments in Aberdeen were amongst the highlights.
Veitchi Interiors and the firm’s preservation division Richardson & Starling also reported successful years.  
Veitchi Interior’s ‘Metframe’product – a lightweight steel structure built off site and delivered in pre-panelised form to construction sites – has featured in 14 projects across the UK and an order book of £7 million is now being worked through.
Meanwhile, Richardson & Starling became the first UK company to be named Contractor of the Year for the second year running at the Property Care Association Awards.
“These latest financial results demonstrate yet again another steady year of growth by the Group despite operating in a challenging environment for the construction industry,” commented group managing director, Jim Preston.
In an era of critical skills shortages in the industry, Veitchi is very proud of the fact that it currently employs 35 apprentices and graduates in it’s training programme which equates to over 10% of the workforce.
Last year the Group marked its centenary year by launching its own charity fund called Veitchi Gives. Across 25 planned events nearly £40,000 was raised and donated to 17 chosen charities, and 125 food boxes were donated by the staff to local food banks across Scotland.
“We are very pleased with these achievements and indeed how much Veitchi gives back to our local communities” added Mr Preston.
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