Scottish Spar wholesaler CJ Lang has maintained its profits despite a fall in turnover.
Accounts filed at Companies House revealed pre-tax profits of £4.9m in the year to 30 April, up from £4.7m the previous year. However, turnover fell by £4.7m to £256.7m.
"The year was challenging in a depressed economic climate," said MD Scott Malcolm. However, distribution costs had fallen 5.2% because of the lower turnover while administration expenses were cut 1.5% through "operational efficiencies," he said. "The directors believe that the group, through its association with Spar, is well placed to grow share over the long term," he added.
CJ Lang sold its Martex C&C businesss to Bestway in November last year. At the time, Malcolm said the disposal would unlock value for reinvestment in its Spar business.
Accounts filed at Companies House revealed pre-tax profits of £4.9m in the year to 30 April, up from £4.7m the previous year. However, turnover fell by £4.7m to £256.7m.
"The year was challenging in a depressed economic climate," said MD Scott Malcolm. However, distribution costs had fallen 5.2% because of the lower turnover while administration expenses were cut 1.5% through "operational efficiencies," he said. "The directors believe that the group, through its association with Spar, is well placed to grow share over the long term," he added.
CJ Lang sold its Martex C&C businesss to Bestway in November last year. At the time, Malcolm said the disposal would unlock value for reinvestment in its Spar business.
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