Red-letter day for Letts

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LETTS Filofax, the Dalkeith-based diary maker, has posted strong full-year results and said demand for its leather and paper-based products remained high, despite the growing popularity of electronic organisers.

The firm, which employs more than 500 people, recorded a pre-tax profit of 2.66 million for the year to the end of January.

Revenues for the year came to 54m, and chief executive Gordon Presly said Letts’ UK profits were ahead of those for 2002.

Mr Presly, who led the 17m management buy-out of Letts in 2000 and acquired Filofax for 17m the following year, said Filofax had a very solid year thanks to a "better-balanced product range".

Letts has a 40 per cent share of the UK diary market, and generates more than half its sales in the UK.