Veitchi Head Office
Veitchi Head Office

Veitchi Group celebrates a century in business and reports £37m turnover for 2015

One of Scotland’s oldest and largest construction industry sub-contractors, the Veitchi Group, turns 100-years old today (Monday 20th March, 2017).

The Cambuslang-based company remains privately owned with 70 shareholders, many of whom are staff, and currently employs 320 people across five divisions, including Scotland’s largest preservation company Richardson and Starling.

Last year the firm relocated its headquarters from Bouverie Street in Rutherglen to a 20,000 sq ft facility on the banks of the River Clyde, where the business first had its roots.

The origins of the company can actually be traced back prior to its 1917 incorporation to 1912 when its flooring division equipped the Titanic prior to its fateful maiden voyage.

“Fortunately our journey as a business has been much less infamous,” quipped Veitchi’s Group’s managing director, Jim Preston.

“To reach a century in business is a fantastic achievement and an incredibly proud day for everyone at the Veitchi Group,” he added.

To mark the milestone the firm has launched a year long series of events, including several fitness and charity initiatives, aimed at engaging every member of staff and promoting healthy living.

“Everyone contributes to the continued success of the Group – from flooring to contracting, building preservation and house building – so we wanted to ensure all of our staff feel inspired to contribute to the next century of business,” said Mr Preston.

Meawhile, Veitchi will hold its 100th AGM next month at which the financial results for the year ended 30th November 2016 will be revealed.

In the previous year the Group reported an increase in profits before tax of 26% and turnover of £37m. Mr Preston says that the latest accounts are yet to be “ratified” but that “after 4 years of consistent profit growth, we expect another year of solid financial returns to be delivered by the Group, showing improvements in both turnover and retained profit.”