Glazier in solid shape
Eadie credits prudence as CR Smith targets England
The core business, CR Smith Glaziers, reported a 9% increase in turnover to £21.4 million, the fifth consecutive year of growth. Turnover at CR Smith manufacturing rose slightly from £7.1m to £7.3m.
Reported combined operating profit for its two divisions of £337,578 against £2.9m last year when it had a one-off gain of £4.3m.
The details of this payment remain commercially sensitive and subject to confidentiality agreements. The funds were invested back into the business, allowing an increase in capex spending and additional marketing activity.
The firm has net assets of £2.4m and is free of bank debt.
Gerard Eadie, executive chairman and owner, said: “We are very pleased with the performance of the company.
“Long term stability is exceptionally important for our staff and our customers and the solid and prudent financial performance highlighted by these figures reflects our commitment to achieve this.
“Over recent years, we have been in the fortunate position where we have been able to reinvest profits back into the business, supporting our manufacturing operation, expanding our marketing activities and making sensible provisions for the future.”