24 August 2010, Selkirk - A Scottish textiles company has increased
its profits by almost 35% as a result of strong sales growth in its golf
knitwear ranges. Golf clothing manufacturer Lyle & Scott recorded a pre-tax
profit of £8.6m in the year to March 2010, compared to profits of £6.4m the preceding
year. The company, which is based in Selkirk and has a factory in Hawick,
increased its sales by 28% to £34m during the year.
Lyle & Scott was founded in Hawick in 1874 and the company's
drive to become the knitwear producer of choice for fashion-conscious golfers
appeared to have paid off in the UK, where turnover increased by 35% to £24.5m.
Sales in Europe increased by 16% to £9.6m.
Lyle & Scott, which opened a flagship store in London's
Covent Garden in 2005, is owned by English Midlands based Waterlink Investments,
which controls a group of clothing manufacturing businesses, including Clan
Douglas and Hawick Knitwear which manufactures knitwear for the Lyle &
Scott brand.
Lyle & Scott's success will be welcomed as evidence
that companies can still make money from textiles manufacturing in Scotland.
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