The Courier & Advertiser (Angus and Dundee)
Angus blinds firm sees turnover rise
An Angus blinds manufacturer has shrugged off economic challenges to see turnover jump by more than 13%.
Newly-filed accounts for Stevens (Scotland) show turnover rose from £8.4 million in 2018 to £9.6m for the year ending December 31 2019 – an increase of 13.2%.
However, pre-tax profits fell by 15.7%, from £1m in 2018 to £851,625 in 2019.
The firm, founded in 1968, operates from a 66,000sq ft complex in Brechin and manufactures a range of products including motorised, remote-control blinds.
Stevens is a significant employer in the area and during the reporting period the headcount rose by six to 116.
In the annual report, director Chris Simpson said the environment in which Stevens operates remained challenging in 2019, but described the trading period as “positive”.
He said: “The company continues to be subject to competitive pressures in terms of product development, price, delivery and service.
“Investing in capital equipment and IT infrastructure is now and will continue to be critical to the future success of the business.
“The principal risk and uncertainty at the current time relates to the level of general economic activity in the UK and world terms due to the coronavirus pandemic.
“This is a risk common to most companies at the current time.
“The company has a very wide customer base in terms of activity and size.
“It also has a range of suppliers and therefore has no concerns regarding continuity of supply.”
Mr Simpson added the directors consider that the company is well placed to
“withstand and prosper” in the current conditions when compared to competitors.
Stevens prides itself as a leading manufacturer of window blinds in the UK and boasts of its investment in production facilities.
A statement on the company website highlights investment of £275,000 on new equipment across the factory.
This included new hi-tech fabric welding machinery which delivered increased finishing options to the vertical range.
The company also purchased an additional automated cutting table, taking the total to three.
The table has increased the level of automation in the company’s production line while minimising the volume of waste fabric and reducing errors.
Stevens also spends more than £50,000 per year on a comprehensive maintenance programme on its equipment.
A total of 108 staff work in manufacturing and distribution roles at the facility, with eight personnel employed in administrative positions.
The bill for wages and associated costs comes to £3m over the year.
Mr Simpson said “Since returning from the initial lockdown period back in March, business trading performance has been strong, with a further strengthening of cash reserves.
“The company has sufficient financial resources which the directors believe will make the company well placed to manage its business risks successfully in the future.”
Stevens became a subsidiary undertaking of Hunter Douglas (UK) Ltd in October 2015 in a multimillion-pound deal.
The ultimate parent company, Hunter Douglas NV, is domiciled in the Netherlands.