Edinburgh's Murray Capital 'mindful of economic turmoil' as profits surge 31%

Murray Capital, the private investment office of the Murray family, has recorded double-digit growth in turnover, profit and shareholder funds as higher steel prices buoyed its metals business.

Ownership of the Edinburgh-based business passed from one generation of the Murray family to the next in March last year, when former Rangers FC owner Sir David Murray handed the reins to his sons, David and Keith.

Murray Capital’s principal activities are the development of land for the residential and commercial sectors, investment in private companies and property, wine importing and distribution, and the provision of metal stockholding, processing and distribution.

The latest set of accounts, for the year to the end of June, show turnover from continuing operations amounted to £92.8 million, an 11 per cent increase on the year before, driven primarily by increased steel prices in the company’s metals group.

David D Murray, managing director of Edinburgh-based Murray Capital Group.

The business recorded a profit before tax of £12.8m in the period, representing a 31 per cent increase on the 2021 figure of £9.8m. Those profits helped shareholders’ funds grow year-on-year from £35.5m to £43.9m, an annual return of about 23 per cent.

David D Murray, managing director of Murray Capital Group, said: “We are very pleased to post our best set of results for a number of years, although we do so with our feet planted firmly on the ground given the cyclical nature of our businesses and the current