Yorkshire textiles group report promising pre-tax profits
West Yorkshire textile importers and distributors, Leeds Group say pre-tax profits reached £1.4m for the financial year, up from £1.05m in 2012.
The Drighlington-based business say the need to write-off investment in Scottish cashmere product manufacturers Dawson International, which had fallen into administration, had “severely” influenced the results.
However, Leeds Group reported sales volumes were up by a million metres of fabric and net bank debt had been reduced from £1.3m to £390,000 in the same period.
Leeds Group’s trading activities are conducted by German-based Hemmers that had yielded a 31% increase in pre-tax profits.
Chairman, Kathryn Davenport, said: “In the current year we have identified potential growth opportunities for Hemmers in certain territories and intend to invest in additional sales people to realise that potential for the long term.
“It is possible, however, that the cost of recruiting and employing these people may, in the short term, hold back profit growth.”
This was posted in Bdaily's Members' News section by Tom Keighley .
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular Yorkshire & The Humber morning email for free.