Publicado a 2015-09-13
Burberry poncho and scarf maker Johnstons of Elgin returned to profit after restructuring as demand for its Scottish knits helped sales boom.
The Scotland-based cashmere maker recorded an annual profit of £1.8m after it made a £380,000 loss last year.
Sales rose 14 per cent to £58m. Chief executive Simon Cotton said: ‘We are pleased to be making steady progress in increasing the value of the product which we manufacture, enabling us to improve both revenue and profitability.’
Johnstons supplies lambswool and cashmere from its manufacturing plants at Elgin and Hawick to luxury brands including Burberry (pictured) and French manufacturer Hermes.
Separately, Burberry (down 12p to 1376p) this week won plaudits for its investment in sustainability. The business became the only British brand to make the global 2015 Dow Jones Sustainability Indices.
Chief creative director and chief executive Christopher Bailey said Burberry has been focused on responsible and sustainable business.
Earlier this year it was accredited as a Living Wage employer, the first British brand to pay all its workers and contractors the living wage.