Building material firm Breedon Aggregates Scotland (BAS) has followed the lead of its parent in citing uncertainty over the independence vote as an obstacle for business growth north of the border.
The firm, headquartered in Dundee and part of Derby-based Breedon Aggregates, also said the the lack of “any significant increase” in government spending on transport, energy and infrastructure projects in Scotland had held it back.
But a number of large products on the horizon, including the dualling of the A9 Inverness-Perth road and the £745million Aberdeen bypass represent “substantial longer term opportunities”, the company added.
BAS said a tight rein on costs would also help it to make progress this year following a strong financial performance in 2013.
The comments were in results released by Companies House showing pre-tax profits at BAS soared to £6.58million last year, from £4.28million in 2012.
Turnover shot up to £107.64million in the latest period, from £80.54million previously.
“The company made good progress in 2013 with improved volumes and improved profitability,” BAS said.
It added: “The company has benefited from some improvement in the market environment and continued to take advantage of the growth in the renewable-energy sector in Scotland.”
BAS operates 27 quarries, 15 asphalt plants, 31 ready-mixed concrete sites and two concrete block operations, primarily supplying the north, west and east of Scotland.
The company also owns a 37.5% stake in Bear Scotland, which manages the north-east, north-west and south-east trunk road networks on behalf of Transport Scotland.
In addition, BAS has a majority stake in Scottish company Alba Traffic Management.
Earlier this year, the wider Breedon group reported a big jump in annual profits during 2013.
The underlying pre-tax figure more than doubled to £12.4million.
On Scotland, Breedon said: “Government expenditure has not been increased and, therefore, we are not seeing the same improvement in transport, energy and infrastructure as in England.
“The independence referendum in September is undoubtedly causing some uncertainty and could be delaying investment decisions.”
A spokeswoman for the Scottish Government today said: “Investment in Scotland is booming in the run-up to the referendum.
“As Breedon rightly note, there are major capital projects ongoing across Scotland, such as the A9 dualling – and independence will bring even more opportunities for business.
“The Scottish Government has worked to boost capital spending in the face of severe cuts from Westminster.
“Independence would give Scotland the opportunity to take a different course from this damaging austerity.”