Legal claim by CR Smith rises to £17.9m

A LEGAL claim being pursued against a supplier by Fife-based glazing group CR Smith has risen to more than £17.9 million, its latest accounts have revealed.

The Dunfermline-based company, headed by chairman 
Gerard Eadie, has been pursuing the case against the supplier over a defective component used in products manufactured before 2003.

It said at the conclusion of a preliminary hearing that the Court of Session had found the supplier in breach of contract and that damages are due to be decided following a further hearing in October this year.

CR Smith, which supplies windows, doors and conservatories, said it had seen a steady improvement across all areas of its business in the year to 31 March.

Sales rose to £18.4m from £15.7m with operating profits increasing to £272,000 from £41,000. Employee numbers also rose by 10 per cent to 333 during the year.

Eadie, who has owned the company for the past 35 years said: “We are pleased with our performance in challenging market conditions. Most importantly, it justifies our positive approach to the business.”

The pay package of the highest paid director dipped to £157,242 from £161,782. No dividend was paid to shareholders for the second year running.

The firm became a household name in 1984 when it sponsored the shirts for both Celtic and Rangers football clubs.

CR Smith was founded in 1917 by Charles Robertson Smith as a paint and picture-framing shop in Alloa and a glazing workshop in Dunfermline. Eadie bought the business from the Smith family in 1977. Eadie had been a glazing apprentice with Fife Council before setting up his own business, Gerry Eadie Glazing Contractor, with a £50 loan from his mother.