Age Scotland to move premises

Deputy Business Editor

Wednesday 31 October 2012

AGE Scotland Enterprises hopes to keep growing its revenue and profit after a move to a new city centre location.

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GREIG CAMERON Deputy Business Editor

The social enterprise, which sells insurance and related products to older people, recorded a total turnover of £1.27 million in the 12 months to March 31 this year, up on the £1.03m in the previous period.

Profits, which are distributed on a 50/50 basis to Age Scotland and Age UK, also increased 27% from £630,599 to £803,036. General manager Logan Steele told The Herald he is confident the five-figure investment in a move from Sandyford Place in Glasgow to a more central site on Glassford Street will pay off. He said: "The office in Sandyford Place wasn't great for passing traffic. We want to expand the business and there wasn't room in that location to do that."Getting high street premises was the driver behind the move. One of our key selling points is face-to-face service as a lot of older people value that aspect so much. "There are nine people in the business now. We are looking to recruit one more salesperson in Glasgow initially and more depending on how things go."Once the Glasgow site has bedded in, Mr Steele hopes to look for new premises in Edinburgh.He said: "In Edinburgh we are at Causewayside which is not conducive for face-to-face traffic and sales. "Once we have got Glasgow settled down, which I hope will be quite soon, we will turn our minds to establishing another shop in Edinburgh although that will likely be business year 2013/14."Age Scotland Enterprises generated 15.3% of Age Scotland's unrestricted income in the most recent financial year. That funding can be used wherever the charity decides it is most useful.Mr Steele added: "The fact we direct our profits into supporting the charity's activities is vital, particularly in the current challenging financial climate, where charitable donations are still suffering as a result of the recession. Regular and sustainable income streams are at a premium."

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Age Scotland to move premises

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