Black & Lizars eyes expansion after 6% profit growth

New Black & Lizars managing director Geraldine Wood has targeted further expansion after the Scottish company posted improved annual sales and profits.

Wood, who took on the position this month after former chief executive Mark Ross left the company to pursue other interests (News 20.03.15), planned high quality investments in key areas.

The Glasgow-based company, which has 24 branches in Scotland and one in Belfast, posted pre-tax annual profits of £761,000, up 6 per cent from £719,000 in the prior year. Sales were up by 9 per cent from £12.7m to £13.9m.

The growth follows a period of ‘difficult trading’ with increased competition and suppressed spending patterns, particularly among lower and middle income groups. This led to a programme of new practice acquisitions, a new £2m flagship in Edinburgh, and the disposal of a number of smaller practices ‘which no longer fitted the brand strategy’.