Maxi Caledonian Ltd announces 2023 financial results

Maxi Caledonian Ltd is the ultimate holding company of Maxi Haulage Ltd, Maxi Construction Ltd and Maxi Warehousing Ltd, who have published their September 2023 audited accounts. The Group has reported an increase in turnover and profit, with turnover increasing from £89m to over £101m and a profit before tax of £4.4m.

Chairman Gerry Atkinson said the results were excellent and thanked all those who have worked very hard to achieve this in an increasingly difficult commercial environment.

Maxi Haulage Ltd turnover increased from £74.5m to £80.9m and recorded pretax profits of £2.6m. A market of reducing demand and increasing, unrecoverable costs have impacted margins in the later part of the current year and the following period. Vehicle prices have now stabilised or reduced slightly with an improvement in availability compared with the prior year. We continue to significantly invest in fleet. The Company celebrated its 50th birthday in January 2024.

Maxi Construction Ltd saw turnover increase to £20.7m and a pretax profit of £2m, with a solid pipeline of work into the following period. It continues to maintain its solid reputation for safety and service in its chosen market of projects up to £8m.

The Group continues to follow a policy of maintaining strong financial reserves which allows investment in assets and expansion where appropriate, this, along with all subsidiaries trading profitably and strong cash flow maintained, support a substantial Balance Sheet.