This growth in profitability, for the year ending 28 February 2025, was achieved despite a slight decrease in turnover, which was recorded at £28.1m, down 3.4% from £29.1m in 2024.

The company’s principal activities remain ship building, ship repair, and crane hire. Its operations are diverse, with work on fishing vessels, fish farm vessels, barges, and vessels for the oil and offshore wind sectors. In addition to its main yards at Macduff, Fraserburgh, and Buckie, the firm operates divisions for metal profiling, precision engineering, and fabrication.

The average number of employees during the year was 212, compared to 216 in the prior year. The company’s total wage bill, including social security and pension costs, amounted to over £10.5m. An ordinary dividend of £54,170 was paid, matching the amount distributed in 2024.

The directors’ strategic report highlights the company’s heavy investment in vessel design to improve efficiency and a commitment to staff training. Looking forward, the company has a “very healthy order book for new vessels and repairs in the next 12 months”. It plans to continue reinvesting profits into upgrading its yard facilities and plant.