Growth in profit, turnover and workforce for Scottish Leather Group
06/11/2017
Turnover for the 12 months to March 31 was £144.5 million, up 12% compared to the previous year. This helped the group, which includes Andrew Muirhead & Son and Bridge of Weir Leather, increase its profit from £7.75 million to £8.79 million.
Discussing the strong results, the Scottish Leather Group’s directors said: “Despite the challenging business environment over the past 12 months, the group remains in an enviably strong position in terms of its balance sheet, its products and its people.”
There was further good news for the group as it revealed its workforce also grew during the year. For the 12 months to March 31, the average number of people it employed was 646, up from 599 in the previous year. Production staff numbers averaged 556, up from 507.
The company’s directors added: “Work continued to improve operational efficiency and to ensure that focus is retained on adding value to our raw material. Despite significant investment in buildings, plant and equipment during the year, the group’s cash position remained strong.”
Image courtesy of the Scottish Leather Group.
Share this story:
