Maxi Group 2018 Financial Results

The Maxi Group of Companies*, which includes Maxi Haulage Ltd and Maxi Construction Ltd, achieved a record turnover in 2018 of over £85m. We would like to sincerely thank all our clients for their continued support and our staff and subcontractors for their commitment and hard work. We continue to maintain very healthy balance sheets with cash reserves and no borrowings. This allows us to sustain our investment programme and finance expansion when opportunities arise.

Maxi Group’s Chairman, Gerry Atkinson, commented “I am delighted with the performance of the Group companies over the latest financial period and although there are challenges to meet, particularly in the haulage industry, we are on track to achieve our targets for the current financial year.”

Key Financial Highlights
The Group’s turnover for the year increased by over 14% from £74.21m to £85.11m with pre-tax profits increasing by over 58% from £1.59m to £2.52m.

Maxi Haulage’s turnover for the year increased by 6% from £62.33m to £66.29m with profit before tax of £1.9m.

Maxi Construction’s turnover increased by 61% from £11.43m to £18.37m with pre-tax profits increasing to £600k on increased trading.

Key Business Highlights
Maxi Haulage continued with heavy investment in trucks, trailers and facilities to ensure we maintain a modern fleet and depots necessary to produce high levels of service and quality. The total spend through the year was in excess of £3.5m and we are making even greater investments during the following period.

Late 2018, because of the adverse effects of Brexit anticipation, we experienced some issues with our Irish business. The need to maintain customer service levels during inefficient, out of balance traffic flows was totally uneconomic. We have taken steps to resolve this. This will affect turnover and margin in the current year. The national shortage of HGV drivers is an ongoing issue within the haulage industry and we have introduced further initiatives to assist with driver recruitment and retention.

Maxi Haulage trucks

Visit our web site for further information on Maxi Haulage.

Maxi Construction continues to deliver high quality construction works in our market sectors throughout central and southern Scotland.  We are appointed to numerous local authority frameworks and we are a Tier 1 contractor for a number of hubCos.

One of our projects, completed in 2018, was shortlisted in the Building Conservation category of the RICS Awards 2019 Scotland.  Panmure House, a Grade A listed Edinburgh city centre building and former residence of economist Adam Smith, has been sympathetically refurbished and reconfigured for Edinburgh Business School to provide flexible accommodation for lectures, performances and seminars.   Read more about the project here http://bit.ly/MaxiPH

Panmure House Edinburgh

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Notes

*Maxi Caledonian Ltd. is the ultimate holding Company of Maxi Group Ltd., Maxi Haulage Ltd., Maxi Warehousing Ltd. and Maxi Construction Ltd.  We therefore report on the consolidated position of these Companies at 30th Sept. 2018, all of whose Accounts have now been lodged at Companies House.