Ogilvie Group - General - Stirling, Solid Growth Continues at Ogilvie Group

Date: 09 Nov 2006

Stirling based Ogilvie Group continued its track record of year on year growth after posting results for 2006 that show an increase in pre-tax profit of 21% and turnover for the year up by £29 million.

Accounts for the year to June 2006 show that Group turnover increased to £176 million from £147 million in the previous year and pre-tax profit rose from £4.4 million to £5.3 million in the same period.

This is the sixth consecutive year of growth for the company and in the last five years the Group's turnover has more than doubled, increasing from £81.5 million in 2001.

All of the company's operating divisions achieved continued growth (2005 figures shown in brackets): Construction and Housebuilding contributed £105 million (92.5m); Vehicle Contract Hire delivered £68 million (£53m). IT Security and Telecommunications achieved £1.6 million (1.5m).

Commenting on the results, Duncan Ogilvie, Chief Executive, Ogilvie Group, said:

"This has been another successful year for the company where once again we have seen growth and increased profitability across all operating divisions. Construction and Homes have continued with a successful strategy of joint ventures and partnerships and combined with improved efficiencies, continues to deliver improved margins.

"The Fleet and Contract Hire division has performed extremely well this year. Much of the successful growth has been achieved through continued expansion south of the border with a new office in Manchester established to complement the Stirling HQ and the office in Sittingbourne, Kent.

"IT Security and Telecommunications has achieved modest growth in the year despite extremely competitive market conditions.

"We expect to see the trend for steady growth continue in the coming year. Our success is a direct result of the commitment of all of our people who are focussed on delivering the highest standards of quality and service.'

Ogilvie Group is one of Scotland's most consistently successful family owned businesses. The company is over 60 years old and employs over 500 people across its various business operations.

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