The Scottish arm of office furniture supplier Tsunami Axis has clocked up a record-breaking quarter, further highlighting the buoyancy of the workplace market north of the Border.
The London-headquartered company's Scottish operation, which is based out of Edinburgh, clocked up revenues of £6.1 million during the year to the end of May. That was up from £4.4m the previous year.
Under the guidance of a restructured management team headed by regional sales manager David Bell and operations manager Richard Gibson, the Scottish division has further advanced with a record quarterly order intake of £2.4m for the three months to August. Gross profits of £400,000 are up 35 per cent on the same period a year earlier.
“We are coming off the back of a phenomenal year for the business and we are stronger than ever here in Scotland where we've just recorded our best-ever quarter for sales and profitability,” Gibson said. “As well as growing our overall level of revenues through the Edinburgh operation, we are now accounting for a higher percentage of the overall group turnover which underlines the strength of our existing team.”
The office market in Scotland's Central Belt has been robust, driven in part by the lack of new Grade A stock being built in Edinburgh and Glasgow. This has led to a boom in refurbishment activity by employers keen to attract and retain high-calibre staff with an environment suitable for modern working practices.
Tsunami Axis clients in Scotland include AstraZeneca, Skyscanner and Tesco Bank. Along with its office in Edinburgh, which opened in 2010, the company also has operations in Manchester, Ghana and Azerbaijan.
Revenues for the group as a whole came to £31.6m last year, up from £27.4m previously. Pre-tax profits have increased from £800,000 to a provisional £1.7m.