DJ Laing hails Dundee property market as profits rise
Carnoustie-based housebuilder DJ Laing has pointed to the strong Dundee property market for its rise in profits.
Newly filed accounts from the firm revealed that its sales increased to £7 million for the year ending May 31 2020, compared to £6.3m in 2019.
Pre-tax profits also rose over the period, rising from £328,000 to £453,000. The rising sales and profits come despite the company shutting down its operations for the last two months of the financial year, due to the COVID-19 lockdown.
The firm currently working on a 97-home development at Castle View in the Ballumbie area of Dundee.
Managing director Karen Nicoll said the pandemic brought changes to the firm’s operations, including investment technology.
She said: “Results for our last financial year were very positive. The Covid pandemic has been challenging for everyone but it made DJ Laing review its existing strategies and implement new digital systems to improve communications with customers and our team of 80 employees.
“During lockdown we launched a new app and online store for supplying building materials which allows customers to order their products online for collection or delivery in Dundee or Angus.”
The managing director said there had been strong demand since the company reopened its sites last June.
She added: “Since returning to sites with Covid safety measures in place, our workload has been extremely buoyant mainly due to the positive housing market in the Dundee area.
Ms Nicoll said that the firm’s new way of working would stand the firm “in good stead in 2021 and beyond”.
She added: “With a high demand for construction and a number of large contracts secured in the Dundee/Fife area, the future looks positive and we are actively recruiting for more team members to fulfil our current workload.
“We also take the health and wellbeing of our workforce very seriously and have signed up to the Lighthouse Club’s mental health charter to support our employees during these difficult times.”