Affordable housebuilder McTaggart Construction has reported a 39.3 per cent increase in revenue, positioning itself closer to 2023 profit levels while exploring new ‘alternative workstreams’ to drive future growth.
The Ayrshire-based firm achieved £90.3 million in revenue for the financial year ended 31 March 2025, up from £64.8 million in FY2024.
This marks a strong recovery beyond 2023’s £84.2 million, despite a slight dip in profits.
Pre-tax profits dropped to £5.1 million (FY2024: £5.4 million), while operating profit fell to £4.7 million (FY2024: £5.1 million).
Despite the dip, directors highlighted the year as “another strong margin performance”, with the company achieving a 14 per cent gross margin on £12.6 million profit.
This compares to 2024’s 19 per cent on £12.3 million and 2023’s 15.8 per cent on £13.3 million, reflecting a resilient approach to margin management.
Among its key developments is the 22-acre Riverside Dalmarnock site in Glasgow, once home to a power station and now being transformed into a tenure-neutral development of flats and social housing, located near the Commonwealth Games Village.
McTaggart has expanded its workforce, increasing staff numbers to 152 from 132, and reported cash reserves nearing £14 million, up from almost £11 million in 2024.
It paid out dividends amounting to £3 million.
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“The Board is encouraged by the positive rhetoric coming from the Scottish Government in relation to affordable housing and the four year pipeline of funding is welcomed,” the firm’s directors said.
“The Board is mindful of the risks associated with a focus on affordable housing delivery and the company is exploring alternative workstreams.
“Our business strategy remains robust with a healthy two year order book which will see further controlled growth.”
Founded in 1946 as G&W McTaggart by brothers George and Willis McTaggart in Dalry, the firm initially provided general building and haulage services, building its first house in 1950.
Renamed McTaggart Construction in 1973, the company expanded into land development, design, engineering, and construction.
Today, McTaggart builds more than 750 new homes annually, with 90 per cent of those dedicated to the affordable housing sector.
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