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’.
Wood said: ‘Black & Lizars will now focus on organic growth, in particular concentrating on children’s eye care, specialist clinics and hearing care with the aim of creating a health-led group of practices with prices to suit every budget.
‘It is our intention to expand and grow the company in key areas that fall within our target demographics and practice profile. The company will, as it has done throughout its long history, concentrate on quality rather than quantity.’
The chain, which celebrates its 185th anniversary this year, had also invested heavily in 3-D Optical Coherence Tomography eye scanners, saying it now had the largest network in the UK of Optos’ new ultra-wide retinal scanners Optomaps.