Annual profits surge at Forth Holdings
Construction support services firm Forth Holdings has achieved a leap in annual pre-tax profits from £1.5 million to £7.5m as favourable sector conditions boosted turnover, The Herald has reported.
The Stirling-based firm’s accounts, filed with Companies House, show turnover rose by 16 per cent to £204m in the year to August 31, a period in which its average workforce was 1,905.
Forth Holdings’ activities include pre-construction consultancy, mechanical and electrical engineering work, and maintenance and servicing of buildings over their lifetime.
Chairman Duncan Fletcher writes in the accounts: “All of our businesses experienced increased tender activity. This more favourable environment contributed to turnover growing by 16 per cent.”
While noting increased construction sector activity, Mr Fletcher notes the market-place remains “very competitive”.
Setting out the company’s approach to bidding for contracts, he adds: “We are in business to make a respectable return and therefore price work sensibly, trying to avoid business which we know will only result in poor performance and ultimately drain cash flow.”
The parent FES Group was named the winner in the Scottish Business Awards “Employer of the Year” Category in November 2015.
The award recognises Scotland’s outstanding employer who have created jobs and working environments in which employees can thrive and achieve excellence. The FES Group were selected from a strong list of leading Scottish companies by a judging panel chaired by Sir Tom Hunter.