The Courier & Advertiser (Angus and Dundee)
Profits in sharp focus for opticians group
DUNCAN AND TODD: Growth achieved by acquisitions
Opticians Duncan and Todd saw its profits rise last year as it continued to grow throughout Scotland.
The group is now the largest privatelyowned optician and hearing care chain in Scotland following several acquisitions.
Sales increased by 15% from £17 million to £19m for the year ending March 31. Operating profits were £468,000 last year compared to a loss of £74,000 in 2018.
Managing director Frances Rus said the strong financial results paved the way for continued growth and increased profits.
She added: “We have seen a strong start to the current financial year, despite the difficulties in the retail sector, and we are ahead of the same period in the previous year, so we’re on track to achieve a significant increase in profitability in the coming year.
“It’s pleasing to see that our focus on customer service both in our clinical services and in the wide range of spectacle frames and lens that we offer and the time we are prepared to spend with patients to get the right outcome is well received.”
In March 2018, Duncan and Todd secured a £15m investment from LDC to expand its Scottish retail presence.
Duncan and Todd purchased independent Dundee group Neil Cuthbert & Partners, which operated three city premises, in April.
It also acquired a further nine practices from Black & Lizars after the year end, bringing its total number of sites to 41 across Scotland.
Neil Cuthbert & Partners was established in Dundee in 1980.
Its branch at Ninewells Hospital in Dundee was closed, while its branch on Commercial Street merged with the Duncan and Todd on Reform Street.
The other Neil Cuthbert & Partners store on Strathmartine Road was rebranded to Duncan and Todd.
A total of 12 staff were transferred under the acquisition.