Muir Group, the family-owned Fife construction business, has reported a huge jump in pre-tax profits from £3.9million to £13.2m last year.
Turnover accelerated from £75m to £115m, driven by property disposals in Aberdeen with completion and sale of three major developments to the Glasgow-managed UK Commercial Property Trust for £48m.
The star performer was property development - which includes Hermiston Securities and Muir Aberdeen - which pushed turnover from £7m to £45m and profits from £300,000 to £9.8m.
Muir Construction saw turnover increase from £42m to £58m although profits were static at £1.6m, with lower margins offset by cost reductions. Aberdeen, despite the oil price drop, continues to be a major focus for the division.
Muir Homes also continued to grow with turnover up by £6.2m to £31m. House completions increased by 20 to 164 in the year, which along with margins steady at 22per cent and an increase in the average house price to £189,000, triggered a 45 per cent uplift in profit to £4.2m.
Muir Timber Systems returned to profitability with turnover at £3.9m from £2.8m previously, as the housebuilding sector recovered, recording a £185,000 surplus after the previous year's £88,000 loss.
Muir Leisure, trading as Deer Park Golf & Country Club, increased revenues from £1.4m to £1.5m, though losses increased to £241,000 from £224,000 in 2013-14.
Chairman John Muir, 77, who founded the business in 1974, said: "Whilst the leisure industry continues to struggle, we at Deer Park are well set up to take advantage of increased consumer spending with a strengthened management team now in place."
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