Investment has paid off for double glazing firm CR Smith after the long-established Fife business booked a steady increase in turnover and profits.
Newly released group accounts show that revenues for the 12 months to the end of February 2016 hit £21.9 million, up from £21.4m the year before, while gross profits before tax totalled £159,083, a year-on-year rise of almost 28 per cent. Profits after tax were 22.4 per cent higher.
It marks the sixth successive year that the Dunfermline-based firm, which installs windows, doors and conservatories for the domestic market, has reported growth. During the period under review, the headcount rose slightly, to 308 from 300 in 2015.
Accounts for the group’s commercial operation, CR Smith Manufacturing, also showed steady improvements with sales up to £7.5m from £7.3m, while gross profits edged up to £1.8m from £1.7m. The business, which has taken advantage of increased demand from new-build developers, employs a further 90 staff at its Cowdenbeath factory.
CR Smith has been owned and operated by executive chairman Gerard Eadie for 40 years. He said: “Over the past six years we have consistently delivered a quality product and high level of customer service.
“We have progressively invested in both the manufacturing and sales operations to keep pace with customer demand, on both the domestic and commercial side of the business. We are also building up new revenue streams.”