Major contract wins help JHE profits soar to £1m mark – Daily Business

John Heaney Electrical (JHE), the West Lothian-based electrical, mechanical and HVAC firm, has posted a record turnover for the third year running following a series of significant contract wins.

The Livingston company’s latest set of financial results to the year end December 2024 show an increased revenue of £11.5 million, up 51 per cent on the previous 12 months (£7.6m).

A strong performance across all departments saw the business mark its 35th year in operation as a limited company with a rise in profits to nearly £1m, sitting at £977,000, an increase of 79 per cent on last year.

The firm’s core electrical division saw £6.6m of revenue, while facilities management grew from £1.5m to £2.4m. Cash in bank broke the £1m threshold at £1.9m, up 305 per cent (£470,000).

Managing director Mark Heaney said: “Twelve months ago we didn’t expect revenues to reach the levels they did and a lot of hard work has gone in by a lot of people to get us into this position.

“Profit margins were also decent and that allowed us to have a positive increase in cash in the bank at year end. We have worked hard to create this solid foundation and the future is looking positive for the company going forward as we look to grow strategically, with a particular focus on new long-term contracts and building partnerships with major retail companies and blue-chip firms.

“Our order book is looking healthy and there are a number of exciting projects in the pipeline as we look to build on existing relationships.”

The latest financial year saw Mr Heaney successfully complete a planned management buy-out of his parents, who set up the limited company in 1990 with father John having been a sole trader for seven years prior to that.

“We had been working on the purchase of the shares for two years and it was an important milestone for us when it completed in November,” he added.

“The sector hasn’t been without its challenges due to the financial climate and I’m proud of what we have achieved in the years the company has been running. We continue to grow and are positioned well to maintain that momentum.”