Scottish-based furniture fit-out contractor Thomas Johnstone Limited has reported a growth of around £15m in revenue as ‘improving confidence within the market’ saw a return to profit for the business.
According to its latest filed accounts for the year ended 31 December 2015, total sales rose by 53.7% to £42.9m from £27.9m in 2014, ending a third consecutive year-on-year decline in turnover.
Operating profit returned to the black, up to £154,598 from its loss of £489,044 last year, as did pre-tax profit, up to £69,220 from its recorded loss of £592,217 in 2014.
Thomas Johnstone, which has been established since 1868 and located in Renfrewshire, commented within the report: “Projects which had been deferred or delayed during 2014 were finally brought to market in the course of 2015 and enabled the company to meet and exceed anticipated revenue levels.
“Market forecasts suggest that trading conditions will remain stable during the early part of 2016. This is reflected in with a healthy forward order book, representing 95% of budgeted sales, and gives solid ground for confidence as we move forward.”