Relocation from Rutherglen’s Bouverie Street follows a strong set of financial results
One of Scotland’s oldest and largest construction industry sub-contractors, the Veitchi Group, is relocating its headquarters to the banks of the Clyde in what is a major boost to the area.
The move away from their four buildings in Rutherglen’s Bouverie Street, where they have been for the last 50 years, marks a return to Clydeside where the company first originated.
The firm, incorporated in 1917, has acquired a 20,000 sq ft building at the Gateway Glasgow development in Cambuslang. They will make their move to the new premises this weekend.
“We’re pleased to be bringing jobs, employment and invesment to the area at a time when there is the threat of more reduncies, particularly in the ship building industry,” explains Veitchi Group’s managing director, Jim Preston.
“Our new headquarters are a prudent acquisition by the Group allowing us to consolidate the Head Office and four Veitchi business divisions, whilst also giving us room for future expansion.”
Meanwhile, earlier this month at its 99th AGM, the Group revealed a strong set of financial results. In the year to 30th November 2015 profits before tax grew by 26% with turnover reaching £37m.
Mr Preston says profits are up due to the Group’s growing geographical orderbook and its burgeoning Metframe business. Veitchi is one of only four companies in the UK licensed to use the very popular pre-panelised building system, suitable for constructing hotels, offices, student accommodation and flatted developments up to eleven storeys in height.
“This is an excellent set of results, which highlights the Group’s strength in depth in a demanding market place,” commented group financial director, James Stewart.
“Our staff are our greatest asset and their commitment and skill is the key to our success.”
The business currently employs 320 staff with half of those numbers attributable to Richardson and Starling, Scotland’s largest and oldest building preservation company.