Livingston Building Services Limited (LBS), a specialist in mechanical and electrical engineering services, which operated from sites in Livingston and Glasgow, has reported exceptional growth in the last year, tripling its turnover and forecasting continued development into 2023.
Turnover for the last financial year (ending December 2021) increased to £37 million, with an operating profit of £2.4m, a healthy increase on the previous year. As well as growth in turnover and profitability, the accounts highlight the robust financial health of the business, with a solid balance sheet, a low cost of debt and a high level of secured workload for the year ahead.
After becoming part of the wider Morris & Spottiswood Group earlier this year, LBS has tapped into its parent company’s framework of clients to successfully win new, larger projects.
The business has also invested in expanding its core capabilities to provide a suite of comprehensive in-house services, from design through to installations, commissioning and aftercare, to both public and private sector clients. These include NHS Greater Glasgow and Clyde, Britvic, City of Edinburgh Council, and Fife Council.
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