THE Maxi Group of companies has reported a 14% rise in turnover, from £74.2 million to a record £85.1 million, in its 2018 financial results. Pre-tax profits were up by over 58% from £1.6 million to £2.5 million.
The Maxi businesses include Maxi Haulage and Maxi Construction. Maxi Haulage’s turnover increased by 6% (from £62.3 million to £66.3 million) with profit before tax of £1.9 million. Maxi Construction’s turnover jumped 61% (from £11.4 million to £18.4 million) with pre-tax profits increasing to £600,000 on increased trading.
Maxi Group chairman Gerry Atkinson said, “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.”
Maxi Haulage invested heavily over the year in trucks, trailers and facilities to ensure a ‘modern fleet’ and depots necessary to produce ‘high levels of service and quality’, the business added. Total spend was in excess of £3.5 million.
Maxi said that late last year, due to the adverse effects of Brexit anticipation, the business ‘experienced some issues’ with its Irish business. “The need to maintain customer service levels during inefficient, out of balance traffic flows was totally uneconomic,” the group said. “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 Construction has been delivering projects throughout central and southern Scotland. The firm was appointed to numerous local authority frameworks and is a Tier 1 contractor for a number of hubCos.