Hadden Construction in good health
Hadden Construction has continued to deliver an improved financial performance, reflecting the building industry’s recovery, with turnover up 12.6% at £17.6 million and pre-tax profit 67% higher at £680,945 in the year to 31 March 2015.
Respective rises the previous year were 8.45% and 28.3%.
Chairman Scott Hadden said: “Our annual report shows a steady sustained growth in turnover with a corresponding increase in profits.
“Whilst the construction sector still faces challenges we are confident of continued controlled expansion through existing valued clients and new development partners with opportunities throughout Central Scotland and Tayside.”
Company secretary Ronald Horne said the latest results were satisfactory with the directors expecting to maintain the controlled growth in the company for the foreseeable future.
“The speculative housing sector has shown signs of recovery which has resulted in the sale of the final two completed dwellings in the company’s land holdings,” he said.
These were at Rawes Farm Steading at Longforgan but consent has just been received for Hadden to build another eight houses on the site.
Mr Horne continued: “The controlled increase in turnover was due to the improvement in activity in the industry in general, and allowed the company to further invest in personnel and infrastructure.”
The head office was modernised and extended to facilitate Hadden’s growth and take advantage of the industry’s upturn.
Mr Horne said the risks facing the firm were those for the construction industry generally, but its financial position was healthy.
The firm prides itself in its reputation for reliability, personal service and innovative solutions.
Repeat business levels sits at 75% and its quality management system feedback system revealed a current customer satisfaction rate of 93%.