Independent grows sales and profit

Independent furniture retailer Gillies of Broughty Ferry has reported a growth in both its top and bottom lines.

According to its latest filed accounts for the year ended 31 August 2021, total sales rose 27.4% to £18.1m from £14.2m in 2020.

Gross profit increased from £6.8m to £8.9m, while pre-tax profit resulted at £3m, significantly improving from its profit of £632,000 recorded the previous year.

Stated within its report, the company said that trading levels following lockdowns was ‘well above the previous year’s level reflecting pent up demand’ during the period.

During the year, Gillies disposed of a heritable property, which boosted profits, while maintaining its continuous programme of store refurbishments. This included a refresh of its whole bedding department at its flagship store in Broughty Ferry.

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