Civil engineering and construction contractor RJ McLeod has increased its turnover beyond £200m for the first time.
Newly published accounts for the Glasgow-based company show that revenue reached £210.3m in the 12 months to 30 October 2022, up from £192.3m a year earlier.
However, the company’s pre-tax profit fell to £18.6m from £24.98m in 2021, meaning its pre-tax margin stood at 8.9 per cent, down from 13 per cent previously.
According to its 2022 accounts, the company has no loans, which it said put it on “a solid financial footing”.
In the document, director Graeme Scott Alexander outlined the company’s investment strategy in its own plant and transport, with £2.5m invested over the period, giving it a total value of around £30m.
He added: “The group’s workload is in positive shape and with the strong foundation of excellent people and good quality plant and transport, combined with structured management and strict financial discipline, the directors are confident of a positive trading outcome this year.”
RJ McLeod employed around 441 people in the year, down from 473 the previous year.
The company, founded in 1951, works in the road, marine, flood prevention, infrastructure, energy, public realm and waste sectors. Last year, it re-entered the CN100 list of the UK’s top contractors by revenue in 69th place, based on its 2021 numbers, after reaching 99th position in 2019 when it had a turnover of £134.9m.
In April 2023, the contractor was fined £800,000 over the death of 10-year-old Shea Ryan at a site he had gained access to in Drumchapel, Glasgow, in July 2020.
The company, which had carried out a surface water management project on behalf of Glasgow Council, had previously pleaded guilty to failing to comply with Section 3(1) of the Health and Safety at Work etc Act 1974.
