INDEPENDENTS

Glasgow independent sales back over £4m, profits more than treble

29.07.2010

One of Scotland's largest single store independents has posted a near double digit sales rise to end March, while profits more than trebled.

Allans Furniture, based in Glasgow, one of the most competitive furniture retail battlegrounds in the UK, made a £0.148m profit before tax on sales of £4.13m.

This compared with £45,278 from turnover of £3.78m to the same year end in 2009.

The revenue climb puts sales back to 2008 and 2007 levels, but its 2010 profit return is its highest in at least five years.

Year on year gross margin rose by 270 basis points to 26.7%, while the balance sheet value of the business climbed 6.4% to £0.535m.