Inverness firm Korrie Mechanical and Plumbing is targeting sales growth of about 20% in its current trading period after “another good but at times challenging year”.
The company, whose activities span heating systems, boiler servicing and renewable-energy technologies as well as mechanical and electrical services, has just posted figures showing a 27% fall in annual profits.
Pre-tax profits for last year came in at £492,871, compared with profits of £675,534 in 2013, but turnover grew slightly to £10.14million and Korrie said it was now aiming for a much bigger increase during 2015 after a period of consolidation.
Director Donald Fraser could not be contacted yesterday, but summing up last year’s trading in the accounts he said: “2014 was another good but at times challenging year.
“The group continues to build a strong, sustainable and diverse businesses across the Highlands, however, the opportunities experienced during 2014 were quite different from 2013 and were more in the domestic than the commercial market.
“The overall revenue for the year was very much on forecast and just slightly up on the previous year.
“Having had such a fast growth from 2010 to the end of 2013, we needed to consolidate…and are now looking at growing again.”
Mr Fraser, who controls the business and is one of three directors alongside Peter Corbett and Billy Dunbar, said the firm continued to see opportunities in the renewable-energy market.
But he added: “The uptake of the (UK) Government-backed renewable heat incentive (which was set up to encourage uptake of renewable heat technologies among householders, communities and businesses) has not been as much as was anticipated.
“We have, therefore, monitored this division closely and tailored our team around the figures we feel comfortable trading, while continuing to develop the knowledge and skill-set to support what will be an ever-growing and important part of our business.”
Mr Fraser founded Korrie five years ago, since when it has grown to nearly 100 employees across operations in Inverness, Thurso and Fort William.
The company has also added a green-energy division and opened the first renewable energy park in Inverness, Korrie Energy Park at Carsegate Road North.
In Korrie’s accounts, Mr Fraser said: “The energy park we developed in 2013 has proved to be a great asset, together with thew new store and workshop.
“They have all added value to the business, together with providing a great facility for our renewable-energy workforce.”
He said Korrie started 2015 with a “very healthy” order book, and was investing in training in order to address a shortage of management skills and “provide a strong succession plan”.