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McColl happy with half-year results as SMC's financial growth continues

The SMC Group has produced half-yearly figures that meet boss Stewart McColl's ambitions for the company's projected annual results.

The ever-acquisitive listed firm has seen turnover jump to £11.3 million for the first six months of this year, compared to the £5.7 million it had in the same period of 2005.

Similarly, profit before tax rose to £1.6 million, from 2005's half-year figures of £1.1 million.

McColl ( pictured) told the AJ that he believes these figures prove that SMC is in line to meet city analysts' predictions that the company could turn over £30 million in 2007 - with a £6 million profit.

It has been an unusual year for SMC, with the group taking over four new firms in just 12 months.

The half-year results also put the firm in a strong position with regard to two planned takeovers in Scotland that McColl says can be expected by the end of this year.

And McColl also announced that shareholders would be paid a dividend of £0.35 a share.

'This has been a strong period of performance for SMC,' he said. 'The group has enjoyed continued strategic expansion, reflecting its policy of adopting a balanced approach to growth by diversifying into new market sectors and higher construction-value ranges.

'We continue to win significant new business and are confident of the group's performance over the full year,' McColl added.

by Ed Dorrell

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