October 5, 2015
A 14% rise in sales combined with an ongoing expansion strategy of acquisition and investment in personnel and infrastructure, the development of international markets and focus on its luxury products, have ensured that the latest financial figures, to April 2015, released by Scottish based Glencairn Crystal, show profits in line with the increase in profitability with turnover up to £6.7 million.
Commenting on the results, Glencairn’s director, Scott Davidson, said “Profitability was in line with sales increase and our focus is still strongly on building our balance sheet and cash position for the future. Combined sales for the first 4 months are already up by 25% on 2014.”
Scott continued, “Over the last two years our planned investment strategy of £1.5 million has now started to come to fruition. The acquisition of Burns Crystal was a solid investment and has allowed us to support the growth and demand for luxury products within the International drinks industry over the decade and continue to attract inward manufacturing business back to Scotland.”
“The integration of both companies will allow bigger cost savings with shared resources and improved performance.”
Over the last few years, elements of this strategy include a number investments and restructuring; the purchase of a new factory, re-banking, and the acquisition and integration of Burns Crystal into the Group. Plans are also under way to include adding another 10 staff over the next 2 years and also building the senior management team to develop the company and its international activities.
Paul Davidson, Managing Director, said, “Glencairn continue to show strong double-digit global growth, with new contracts in the USA, in both the whisky and bourbon markets and in Asia, and this momentum looks set to continue.”
“With over three quarters of our business on an international basis and growing, we are investing heavily in our network and marketing and have recently appointed an International Brand Ambassador based in the USA to promote our products through his extensive contacts and also have representatives in Europe and Asia.”
“Activity in Asia is on the increase, with Glencairn products now widely accepted within the Asian market. The company now has over 1000 active corporate customers.”
“As a leading manufacturers of bespoke crystal and glass, Glencairn are in a unique position to meet customer demands, from the most intimate order through to orders of global proportions.”
Paul Davidson concluded, “It has been another busy year for Glencairn. We have completed several important markers in preparing the company to meet the opportunities for the future and the global demand for high end, high quality products is still growing, so we do not foresee any slowdown.”