JW Filshill has reported a huge increase in full-year pre-tax profits thanks to cost cutting and investment in new technologies.

The Scottish wholesaler reported pre-tax profits of £800,000 for the year to 31 January 2014 versus £272,000 the year before. Profts soared despite turnover slipping by 4.2% to £158m.

MD Simon Hannah said operating costs had reduced by £400,000 during the year due to “improved efficiencies.”