Annual pre-tax profits at Scottish Leather Group have risen from £7.75 million to £8.79 million, with its workforce demonstrating major growth.
The Bridge of Weir-based group posted a turnover of £144.5million for the year to 31 March. Accounts at Companies House demonstrate a 12% increase from £128.6million 12 months earlier.
Past and present customers include luxury car marque Aston Martin, Emirates airline, the Houses of Parliament, Volvo automotive group and British Airways.
In their strategic report, the directors of the leather manufacturer attributed the profit to increased turnover “achieved at margin levels comparable with the previous year”. Furthermore, “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”.
Equity shareholders’ funds were up from £51.4million to £53million in the 12 months to 31 March, while average employment at Scottish Leather Group rose from 599 to 649. Production staff numbers were up from 507 to 556 on average prior to the financial year, while sales increased from £224,000 to £215,000 per employee.
Scottish Leather Group’s operating profit increased from £8.06 million to £8.996 million, while operating profit per employee was up from £13,500 to £13,900.
The directors stated: “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.”
