Prescott bows out ahead of Havelock Kirkcaldy move

Eric Prescott is leaving after more than four years in charge
Eric Prescott is leaving after more than four years in charge
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SHOPFITTING firm Havelock Europa today announced the departure of chief executive Eric Prescott, who has overseen a period of change culminating in the company’s move to Kirkcaldy.

The group said Prescott had decided to step down and would leave “during the course of 2015”.

A spokesman for the firm said: “Eric has played a pivotal role for the past four and half years during a period of considerable change for the company.

“He has overseen a programme of disposals and a restructuring of the core interiors business and the business today is now in a much better financial position from which to build the future. It is the right time to hand over to someone else to take the business forward.”

A comprehensive search for his successor is being initiated and Havelock said a further announcement “will be made in due course”.

The news came as the firm issued a trading update in which it maintained the guidance for lower profits given in November.

It said: “Turnover and profit are both expected to be lower than prior year levels but progress was achieved in improving the underlying strength of the business during the year. We continued to diversify the base of the business and lay the foundations for the future.”

One of Fife’s oldest firms, Havelock had long been based in Dalgety Bay but announced last year that it would be moving lock, stock and barrel to Kirkcaldy after a deal brokered with Fife Council.

The firm has signed a minimum ten-year lease on unit three at John Smith Business Park, and anticipates it will make the move in May.

As part of the deal, the firm has confirmed the sale of its Dalgety Bay warehouse and offices to the council for £750,000.

Aim-quoted Havelock has about 550 staff, including more than 400 in Fife. It said no jobs would be cut as part of the move.

The firm is also in the process of implementing senior management changes and a shake-up of its Stage Systems business.

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