Glasgow group invests in growth

Glasgow-based Black & Lizars has blamed costs related to acquisitions and store refurbishments for a fall in pre-tax profits in the last financial year.

The Herald (March 15) reported that pre-tax profits fell to £465,703 in the year to September 30 2012 compared with £571,878 the previous year. Turnover fell to £11.63m from £11.7m, with the accounts including exceptional costs of £107,697 relating to the launch of three new practices in Perth, Dalkeith and Glasgow last year.

Chief executive Mark Ross pointed to double-digit percentage sales growth in the current financial year as a result of capital investment last year. It acquired two Kilgour Optometrists' practices in Ayr and Troon this year, with deals for a further three practices in Edinburgh and the west of Scotland soon to be completed.