Scotland’s biggest constructional steelwork contractor J&D Pierce (Contracts) saw margins enter double figures despite a sharp fall in revenue last year.
The Ayshire firm, which was bought by Sweden’s Storskogen Group two years ago, saw pre-tax profit hold firm at £10.5m as revenue slipped to £104m from £138m, adjusted to a pro-rata basis from in the previous 17-month year.
Operating margins rose to 12% in the year to December 2023 from 10% before.
Derek Pierce, founder and managing director, said: “While turnover in 2023 was down on last year as the market contracted the company performed well with improved margins.
“A number of large projects were successfully secured and completed during the year and the order book remains strong into the new financial year.”
JDP employs 474 staff operating out of headquarters in Glengarnock.
Available cash under the Storskogen’s arrangements totalled £40m.
