DCSIMG

Spar and Lang hit by squeeze

  • by PETER RANSCOMBE
 

THE squeeze on consumer spending and changes at one of its major customers led to a 64 per cent drop in profits at Dundee-based wholesaler CJ Lang.

The family-owned firm, which is the master franchisee for convenience store chain Spar in Scotland, saw pre-tax profits drop from £5.5 million to £2m. Once the £1.2m gain on the sale of its cash-and-carry unit to Yorkshire-based Batleys in late 2010 is stripped out, profits still fell 53 per cent.

Managing director Scott Malcolm said the sale of one of its major customers – Blantyre-based Botterills, which was taken over by Scotmid – had affected the results for the year to 30 April, with like-for-like sales falling to £200m from £208m.

CJ Lang paid out a £1.12m dividend to chairman Joan Scott-Adie and her family, the same payout as in 2011.

 

Comments

 
 

Back to the top of the page

 

UNMISSABLE SHOWS.
UNMISSABLE COVERAGE.
MAKE THE MOST OF THE FESTIVAL
(BEFORE YOU MISS IT)

#WOWFEST

In partnership with

Complete coverage of the festivals. Guides. Reviews. Listings. Offers

Lets Go!

No Thanks