FAMILY-owned jam and marmalade maker Mackays has seen a rise in profits after increasing sales at home and abroad.
Accounts filed at Companies House show the Arbroath business saw its turnover grow more than 15 per cent from £14.6 million to £16.8m in 2013.
Revenue from the UK increased 19 per cent from £9.4m to £11.2m with sales into the rest of the world growing eight per cent from £5.15m to £5.57m. Pre-tax profit for the 12 months came in at £735,577.
Mackays supplies to more than 50 countries while in the UK it is stocked in the main supermarkets such as Tesco, Sainsbury, Wm Morrison and Waitrose.
In August 2012 it sealed a major expansion with Tesco which saw a number of Mackays preserves, made from Scottish soft fruits, sold across the supermarket's UK estates.
Already this year it has announced its products are now available in more than 350 Asda stores and are being listed by the English focused online grocery retailer Ocado.
The most recent set of accounts show that the company also restated its 2012 numbers with the previously recorded £400,825 of pre-tax profit now down as a £698,490 loss.
That appears to be as a result of the cost of sales at the business being revised upwards from £10.06m to £11.17m.
A note in the 2013 accounts said this is because a detailed review of its method of calculating work in progress and finished goods meant the value of stock at December 31, 2012, had to be reduced.
The restated value of stock was close to £1.8m, compared to the £2.9m initially filed.
The 2013 value of stock was put at £1.6m.
In the 2013 accounts the directors said: "The company continued the growth, turnover and profitability reported in previous years.
"This is as a result of the introduction and development of new products and expansion into new markets coupled with efforts to ensure growth also continues in existing areas, both geographic and product related.
"This policy will be pursued in the coming year as a continuing process and the directors hope to maintain this performance in both turnover and profitability."
The managing director Martin Grant was in Japan yesterday and unavailable for comment.
His father Paul Grant, who took control of the company in 1995 and according to the accounts is still the majority shareholder, was also unavailable.
The accounts show the net debt of Mackays was reduced from £6.2m to £5.67m in the year.
Writing in the financial document the directors said they expect business to continue to improve.
They said: "Further advances in the overall market position continue to be envisaged. The company anticipates expanding its customer base by selling its products in new markets across the world as well as strengthening its relationships with its current customers. The company will also continue to invest in the development of its products to help achieve this."
Average staff numbers were steady at 141 with employee costs rising from £3.2m to £3.46m.
Directors' remuneration rose from £239,844 to £281,332 with the highest paid seeing their rewards go from £86,177 to £116,273.
Mackays can trace its roots back to 1938 and still makes it jams in the traditional way by using copper pots to bring the mixture of sugar and fruit to boil.
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