Both the domestic sales and manufacturing businesses of CR Smith, Scotland’s leading home improvement company, saw revenues climb over the past 12 months, as the company posted positive results for the eighth successive year.
Revenues for CR Smith Glaziers (Dunfermline) Ltd which encompasses the firm’s domestic sales and installations operation, rose £1.1m or 5% in the year to 31 August 2018 to £23.5m. Gross profit recorded a £900k rise over the previous 12 months at £10.2m, although profits after tax were slightly down at £98k. Operating profit, which the firm uses as its performance benchmark, remained steady at £120k.
Revenues for CR Smith’s commercial arm, CR Smith Manufacturing Limited, stood at £8.9m at the end of the financial year, a £700k or 9% rise over the previous 12 months. Gross profit was reported at £2.1m, a £200k rise, with profit after tax and operating profit also rising to £82k (up £49k) and £123k (up £61k) respectively.
The privately owned company has been in existence for over 100 years and was bought by Gerard Eadie CBE more than 40 years ago. With its headquarters in Dunfermline and a state-of-the-art manufacturing plant in Cowdenbeath, CR Smith also has bases in Edinburgh, Glasgow, Aberdeen and Inverness and employs nearly 400 people across Scotland.
Its consistent growth in a challenging market over the past decade is attributed to its continued reinvestment in the brand, the firm’s operations and product development. The recent uplift in revenues is in part the result of the increasing demand for CR Smith to design and install extended living spaces – orangeries, sunrooms and conservatories – to customers’ homes as well as more complex installations for commercial clients.
Gerard Eadie CBE, Executive Chairman, CR Smith said,
“We have been making and installing windows, doors and conservatories for Scottish homes for more than 40 years, and our desire to keep innovating and keep developing our products is as strong as ever.
“Today’s customers want beautiful, warm homes, with light and space and this can be achieved with the right windows or the right design for an extra room or extended space. We have continually developed our products to meet these needs and that is reflected in the latest accounts.”
Colin Eadie, Director of CR Smith Manufacturing, added:
“The expertise that resides in the factory, along with the investment we have made in the machinery, is integral to the success of the whole company. We are efficiently manufacturing the very best window products here in Scotland for Scottish homes and that capability is increasingly recognised by housebuilders.”