Forest management firm Scottish Woodlands has seen annual profit and turnover fall, saying this was mainly due to “the strength of sterling and not because of less activity in our markets”.
The Edinburgh-based company, 80 per cent owned by its employees, struck a pre-tax profit of £1.3 million in the financial year to end-September, down from £1.6m in the previous year. Turnover also declined to £69.5 million from £73.8m.
The group also announced leadership changes, with chairman Tom A Bruce‑Jones handing over the reins to his son Tom R Bruce‑Jones.
Managing director Colin Mann steps down to become deputy chairman, with his deputy Ralland Browne moving up to become managing director. Finance director and company secretary Geoff Craythorne is being succeeded by Richard Walker, previously chief accountant.