EMPLOYEE-owned Woollard & Henry has enjoyed a bumper year with retained profits of almost £500,000.

The Aberdeen business specialises in watermarking paper and has been owned by its staff since a buyout in 2002.

Documents filed at Companies House show the profit and loss account on the balance sheet going from £2.82 million to £3.31m in the 12 months to March 31 this year.

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The company has doubled its workforce to around 46 in the decade since it was bought out while turnover has increased from £900,000 to around £5.5m.