Profits drop at Black & Lizars

Scotland's Black & Lizars opticians group has posted profits down by 10 per cent for the year to September 30. In figures listed at Companies House last month the independent chain of 22 stores stated its pre-tax profits were £286,851 (2002-2003: £319,531).

The company, formed seven years ago from a merger of two of Scotland's oldest optical retail chains - Lizars and C Jeffrey Black - has 22 outlets, including a prime location in the Giffnock area of Glasgow, which opened last year.

The city's Herald newspaper reported that Peter Ivins, chief executive, commented opticians could be hit by a slowdown in consumer spending, although he expected the company to increase profit in the current year.

Black & Lizars has been celebrating 175 years in business this year to mark the anniversary of John Lizar's optical venture which was formed in 1830.