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Dawson International turnover grows 59% in 2005
13 Mar '06
3 min read
Scottish cashmere specialist Dawson International Plc has reported preliminary financial results for the period ended 31st December 2005 boosted by its turnaround strategy that included disposals and acquisitions.
Chairman Mike Hartley said, “2005 has been a year of considerable achievement reflecting on the success of our turnaround strategy by restoring the group to profit and building the foundations for future growth.
"We enter the year with a significantly improved balance sheet. Looking ahead we expect to see returns from the actions taken in 2005. In particular, Dorma is expected to reap the rewards of its restructuring and in the second half of 2006 Todd & Duncan will begin to experience the benefits of its £2 million capital investment programme. The directors expect that the group will achieve continued improvement in 2006," he added further.
The Kinross-based company stated that turnover increased by 59 percent to £111.6 million. Excluding acquisitions and disposals turnover rose by 9 percent to £63.9 million.
Overall, the businesses in the group improved turnover and profit during the year. Dawson Forte returned an outstanding financial performance achieving the highest levels of turnover and profit in the history of the business.
Barrie further capitalized on its commercial independence resulting in a significant increase in sales of couture and private label cashmere. Todd & Duncan benefited from good buying of cashmere and improved yields in the first half of the year.
Chairman Mike Hartley said, “2005 has been a year of considerable achievement reflecting on the success of our turnaround strategy by restoring the group to profit and building the foundations for future growth.
"We enter the year with a significantly improved balance sheet. Looking ahead we expect to see returns from the actions taken in 2005. In particular, Dorma is expected to reap the rewards of its restructuring and in the second half of 2006 Todd & Duncan will begin to experience the benefits of its £2 million capital investment programme. The directors expect that the group will achieve continued improvement in 2006," he added further.
The Kinross-based company stated that turnover increased by 59 percent to £111.6 million. Excluding acquisitions and disposals turnover rose by 9 percent to £63.9 million.
Overall, the businesses in the group improved turnover and profit during the year. Dawson Forte returned an outstanding financial performance achieving the highest levels of turnover and profit in the history of the business.
Barrie further capitalized on its commercial independence resulting in a significant increase in sales of couture and private label cashmere. Todd & Duncan benefited from good buying of cashmere and improved yields in the first half of the year.
Dawson International Plc
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