Mactaggart & Mickel Group have reported a rise in profits for the fifth consecutive year; profit before tax was up 22% to £12.7 mn and turnover increased by 14% to £74.3mn.
The family business, which was founded in 1925, sold 167 homes this financial year and saw its average house sale value climb to £351,000 from £290,000 in 2016.
The group credits its results to continued investment in their English Strategic Land business. Promoting these developments and securing residential consents has proven beneficial in terms of this year’s land sales where turnover has increased to £4.7m.
Chief Executive Ed Monaghan said, “These results show that we have delivered an excellent financial performance, continued to grow the business and increased profits and turnover. This has been achieved against a backdrop of investment in the development of our employees and continually improving and evolving the business.
“Realising our strategy to expand into the English house building market has been a significant milestone for the Group this year, and this focus will continue in the years ahead.
“Earlier this year we won the highly acclaimed Queen’s Award for Enterprise for the Glasgow Commonwealth Games Athletes’ Village, as part of the City Legacy consortium – an enormous achievement for the whole team. I’m equally proud that we continue to be recognised for the top quality build projects that we deliver. Ultimately, client satisfaction drives our success and we have achieved a 5-star rating for customer satisfaction from the Home Builders Federation for the fifth year in a row, together with our full sales team securing accreditations from the Institute of Customer Service.
“The Group is in strong financial health and outlook remains positive for 2018 as we broaden our geographical reach and invest in new markets.”