The result follows a margin of 6.3% in the previous year when profit ran to £3.3m. The latest financial figures cover the 12 months to 28 October 2007. McLeod lifted turnover to £67m (figure in the previous year: £52m)
The two main elements within the group are RJ McLeod (Contractors) (civils and building contractors) and Thomas Gebbie (property owner). The group's construction work is mainly in the roads, marine, infrastructure, flood prevention and water sectors. Assets lifted to £13m, up from a figure of £10m at the start of the period.
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McLeod's plant and transport fleet benefited from an investment spend of £2.6m (figure in the previous year: £1.7m). The directors said that the civils and building markets remain competitive but they envisage a "successful year's trading" in the current year running through to November 2008.
With its finances on an even keel, the directors decided to offer £940,000 by way of a dividend to shareholders, almost three times more than the previous year's figure of £350,000. McLeod has 383 staff, with 228 of this total being site operatives. The total bill for wages and salaries ran to £14m.
The directors shared in a total pay pot of £1.5m with the highest-paid individual receiving £390,000 to which was added £16,000 to help boost his pension provision.
McLeod is currently working on the A77 Haggstone & Glen App road upgrades which have a total value of £19m. The client is Transport Scotland and the 78-week, design and build project was designed by Halcrow. The key issues include soil nailing to the hillside at Haggstone while at Glen App the group has to comply with what it refers to as 'a hen harrier embargo'.
(GK/JM)
