Bosses at Macduff Shipyards are celebrating a busy and profitable year.
The business notched up a near 50% increase in pre-tax profits, to £2.59 million, during the 12 months to February 28 2023.
Accounts lodged at Companies House also show its total headcount increased to an average of 220 employees, from 214 previously.
But turnover fell slightly in the latest period, to £ 28.9m from £ 29.5, a year earlier as the Aberdeenshire boatbuilder – like all business in the UK – faced inflationary headwinds.
Crane hire and profiling divisions also ‘very busy’
The company operates from sites in Macduff, Fraserburgh and Buckie.
Managing director John Watt said: “These accounts reflect five new vessels delivered during the year, together with increased repair and refit work.
“Our crane hire and profiling divisions have also been very busy.”
Macduff is also playing its part in the national net-zero effort, Mr Watt said.
He added: “The yard has worked hard to improve the efficiency of its new-build vessels, reducing fuel consumption and their environmental impact.
“Earlier this year the yard fitted the first UK fishing vessel with a diesel exhaust fluid system, reducing the ship’s emissions below the limits set out by the International Maritime Organisation.”
40 young people in work experience at Macduff Shipyards
Macduff also has a strong track record for creating career opportunities for young people in the north-east.
Mr Watt said: “We are pleased we have managed to grow our workforce.
“We continue to invest heavily in our business and people, and at present we have 40 young people in work experience from college, modern apprenticeships or HNC (Higher National Certificate) courses.”
As well as boat building and repairs, the company has profiling, crane hire and precision engineering operations.
Macduff Profilers cuts carbon steel, stainless steel and aluminium, and Macduff Crane Hire operates 10 mobile cranes nationally. Macduff Precision Engineering provides a range of machining, welding and fabrication services.
Mr Watt said the yard has remained busy throughout 2023.
‘Healthy order book’
This is thanks to a healthy order book for fishing and workboats as well as ongoing refits on fishing, fish farming and oil and gas industry-related vessels, he added.
Expansion in recent years saw Macduff acquire the main fabrication building and machinery from the liquidators of Buckie Shipyards.
In 2017 it acquired the former Herd and Mackenzie’s shipyard from Moray Council.
Last year Macduff said it was to double the berthing capacity of its facility in Buckie.
This would allow the Macduff-based company to take on more building, maintenance and repair work for various industry sectors and vessels, bosses said.
The £1.9m project was expected to create 10 new jobs in Moray over the next three years. It was backed by up to £190,000 of funding from economic development quango Highlands and Islands Enterprise.
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