Falkirk-based Alexander Ross Holdings, the 90-year-old family business which created Scottish Fine Soaps 40 years ago, has continued to lift profits and is looking for more overseas growth.
SFS exports 70 per cent of its soap and employs around half the group's total workforce of 94, which was unchanged from last year as pre-tax profits rose by1.5per cent to £1.25million.
Group turnover was up marginally at £15.5m, according to the accounts filed at Companies House, a rise of around 35 per cent since 2009 when profits were only £512,000.
Around 60per cent of the business is Unico, which has a strong position in supplying Scottish local authorities, universities and hotels with hygiene and janitorial products. It was founded in 1923 by analytical chemist Robert Ross and still manufactures its own chemicals.
His great grandson Robert Ross, who was a forex trader for HSBC in London before returning to Falkirk as managing director five years ago, said it had been a steady year. He said SFS, created in 1974 by his father Derek the company chairman, had been growing quite strongly for the past three or four years. "There is a lot of competition, a lot of brands out there, we predominantly make under our own name though we do a little for prestige brands."
He said SFS was looking to grow its business in the US and Europe. "We are also looking at China in a small way, and at India, but mainly trying to get some growth out of Germany, Austria, Switzerland and France."
The group runs a third brand, within the SFS company, the Montague Lloyd supplier of toiletries to the hotel sector.
The company was about to make a £500,000 investment in new machinery for its liquid soap lines, Mr Ross said, showing its confidence in the outlook.
There was also potential for some growth for Unico in the North of England, Mr Ross added. "We are seeing budget cuts from customers but we are managing to get some new customers."
On manufacturing in Scotland, Mr Ross said: "It's tricky, you have got to look at your costs constantly, but we still manufacture here and we want to manufacture here." The company does source some liquid soap products from Italy, but tubs and jars which had been coming from China had been moved back to UK production, Mr Ross said.
The company gets support from Scottish Enterprise, most recently in helping to create a new natural soap range, and with graduate employment.
Alexander Ross has no bank debt, and Mr Ross it would be funding the new investment internally, and was glad not to have to be seeking external financing in the current climate.
The accounts show the group's shareholder funds rose from £2.48 to £3.22m last year, and after paying no dividend in 2013 last year it paid out £150,783.
The business increased cash by £386,206, a rise of almost £104,000 on 2013. Overseas turnover slipped from £3.3m to £3.1m, but in the UK it rose from £12m to £12.4m. Production staff fell from 20 to 16 while distribution increased by four to 43. Directors' remuneration rose marginally to £355, 685, the rewards of the highest-paid falling from £101,008 to £96,650.
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