CR Smith, domestic arm of double glazing and conservatory specialist has reported an increase in their revenues and profits, but unfortunately, their commercial operation has taken a hit by “major” investment in plant and machinery.
Although both owned by the family of executive chairman Gerard Eadie, the two report their figures separately. The latest accounts for both cover the 18-month period to the end of August 2017 in a move to “allow financial reporting to better align with the current business cycle”.
The domestic arm of CR Smith posted revenues of £33.6m for the 18 months, equivalent to a 12 month pro-rated £22.4m. That was up from an equivalent £21.9m previously .
Pro-rated profits before tax were £197,000, up from £159,000. It is the seventh consecutive year that CR Smith, which employs 289 people across Scotland, has reported a growth in business.
The company’s commercial arm, CR Smith Manufacturing, reported a rise in turnover to £12.4m for the 18 months, which on a 12 month pro-rated basis amounted to £8.3m, up nearly 11 per cent on the equivalent period.
But pro-rated profits before tax fell to £57,000 against £118,000 previously. This was the result of investment in new plant and machinery at its Cowdenbeath site, including £500,000 of infrastructure refurbishment that resulted in “temporary extra costs”.
Revenue growth was attributed to the development of the FIX division, which carries out repairs, re[placements and upgrades on widows, doors and conservatories regardless of who fitted them originally.
The launch of the division was supported by a Scotland-wide marketing campaign that included commercial sponsorship of 18 of Edinburgh’s trams. A further two trams devoted to promoting FIX were introduced earlier this month.
“While replacement windows will always be our core business, the company is developing key markets for large, complex builds,” Eadie said.
“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.
“At the heart of what we do is our understanding of customer requirements and we can deliver a bespoke product that matches those requirements from our state-of-the-art Cowdenbeath factory. We continue to invest in the future with confidence.”
Eadie purchased the company as a 22-year-old, and has run it for the last 43 years. His nephew Colin Eadie manages CR Smith Manufacturing, which employs 93 people in addition to staff in the domestic arm.
“The commercial business is continuing to grow its customer base within the new build housing and commercial markets and is actively tendering for work across an extensive range of existing and new customers,” Colin Eadie said.
“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, by providing the windows and doors for all 10 nest homes and community centre.”
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