M&K MacLeod change banks and go for growth with £5m package

Argyll’s major construction company and one of its biggest private sector employers – quoted as employing 200 staff and with service contracts with 200 sub-contractors. – M&K MacLeod,  has changed banks from the Clydesdale to Santander for reasons that spell good news for Argyll – growth.

The Clydesdale were sucking their teeth about supporting the company’s planned development, where Santander were, unsurprisingly, warmly welcoming.

MacLeods’ has always been a savvy and well managed business and always a refreshingly ambitious one – an exemplar for an overly modest Argyll.

What makes MacLeods’ stand out to Santander as supportable in a £5m package for its new push for growth is that, throughout the recession since the Autumn of 2008, the company has been delivering strong financial results.

Its pre-tax profits for the year to the end of May 2012 were up 11.6% from the previous year – to £753,732. Its turnover rose over the same period by 14.6% to £22m. They are also forecasting a profits rise for the year to May 2013.

MacLeods’ doesn’t just build houses, of course. It’s a property developer with a very substantial land bank. It quarries aggregates for itself and others; and it makes and sells its own windows as well as fitting them to its timber frame houses. It’s’ into biomass and, according to Company Secretary Jane MacLeod, its building more affordable than Private housing over the past few tough years.

This family business is focused on success.The resourcefulness than drives its versatility in bad times and its determination not to rest on its considerable laurels deserves respect and admiration.

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3 Responses to M&K MacLeod change banks and go for growth with £5m package

    • To clarify, we did not get this information – or any information – from MacLeods but from financial sector information.
      It is very much in Argyll’s interests that one of its major employers has been managed in a way that has resisted the recession and is going for growth.
      With a population at once falling and ageing and with failing performance in the local economy alongside the absence of any economic development strategy from any source, Argyll needs businesses with efficient management supporting ambition.

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