Scottish Spar wholesaler and retailer CJ Lang & Son saw a growth in sales and underlying profits last year, according to its latest financial statement.
Figures released by the Dundee-based company for the year ending 30 April 2019 show a rise in turnover for the first time in four years, up 2.6%, to £187.9m. Margins also improved to 24.3%, from 23.9% the year before. Underlying profits, before exceptional costs, increased by 56% to £764,000.
However, the booking of a £1.6m one-off cost, primarily to cover asset write-downs and lease charges resulting from the closure of several long-term loss-making stores, resulted in the posting of a net loss.
Colin McLean, CJ Lang’s Chief Executive, said the numbers confirmed the company’s strategy for growth was driving “positive change”.
He added: “We will continue to follow our strategic path, focusing initially on a back to basics programme, coupled with initiatives to improve our offer, attract more independent retailers to Spar Scotland and to improve the profitability of our business.”
