CR Smith turnover sparkles as further investment made

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Glazing and conservatories business CR Smith has racked up its seventh successive year of growth with both turnover and profits showing steady increases.

Accounts for the Fife-based firm reveal that revenues for the 18 months to the end of August 2017 came in at £33.6 million. This is equivalent to a 12-month pro rata figure of £22.4m, up from £21.9m the year before.

Profit before tax in the latest period was £196,699, up from £159,083 previously.

The firm installs windows, doors and conservatories for the domestic market and employs almost 300 people across Scotland. Total capital expenditure, including a new Mercedes van fleet, amounted to some £616,000.

The group’s commercial arm, CR Smith Manufacturing, which employs an additional 93 at its factory in Cowdenbeath, also reported a rise in turnover for the 18-month period to the end of August.

In separate accounts, sales for CR Smith Manufacturing were £12.4m over the period – equivalent to a 12-month pro rata £8.3m, up from £7.5m.

Profit before tax fell to £57,118 from £118,214 the year before following “major” capital investment in new plant and machinery in 2016, continuing through last year.

Some £500,000 was also spent refurbishing the property infrastructure that supports the growing manufacturing business at the Cowdenbeath site and resulted in “temporary extra costs” to operations.

The directors of CR Smith noted that the successful pursuit of new markets had underpinned the firm’s continuing success.

The development of “Fix from CR Smith”, which repairs, replaces and upgrades windows, doors and conservatories regardless of manufacturer or fitter, and the focus on the “quality of its manufacturing capability” have seen the business take on bigger projects both within the domestic and commercial markets.

Executive chairman Gerard Eadie, who has run the company for more than 40 years, having bought CR Smith as a 22 year-old, said: “While replacement windows will always be our core business, the company is developing key markets for large, complex builds.

“Within the domestic market, our reputation for high quality living spaces, such as orangeries, is growing. At the same time, that expertise and experience is making an impact within the commercial sector.

“We continue to invest in the future with confidence,” he added.

Colin Eadie, who runs CR Smith Manufacturing, said: “The commercial business is continuing to grow its customer base within the new build housing and commercial markets and is actively tendering for work.

“Over recent months we have completed a major project at Malin Court Hotel at Turnberry, Ayrshire. I’m also delighted to say that we helped to build the Social Bite Village at Granton, Edinburgh.”