Cruden Holdings Ltd, not to be confused with Cheshire-based Cruden Group Ltd, generated pre-tax profit of 拢9.0m for the year to 31st March 2018, down 12% on the previous year (2017: 拢10.5m). Group turnover was down 4% to 拢188.6m (2017: 拢200.6m).
The value of the company鈥� construction activity increased in the year by 4% to 拢167m. The number of homes sold decreased from 280 to 158, which was attributed to 鈥渢iming in the development process鈥�. Average sale price was 拢270,000.
The directors said in their report in the annual accounts: 鈥淭he group鈥檚 forward order book in construction for external clients is encouraging and should allow for enhanced levels of activity in future periods. Whilst the group continues to be selective in its residential development programme, good progress has been made in expanding activity in this sector as a pace commensurate with market conditions.
鈥淚t is likely that the group鈥檚 turnover will increase in the following financial year, based both on construction activity levels and the number of anticipated homes sales. Following a further year of solid trading, the group鈥檚 net asset value has increased to 拢44.7m (2017: 拢41.6m), which provides a stable platform for future growth.鈥�
Within Cruden Holdings, there are two distinct construction companies: Cruden Building is based in Glasgow and operates primarily in the west of Scotland. Hart is based in Edinburgh and covers the east.
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