The Press and Journal (Aberdeen and Aberdeenshire)
Tweed firm is satisfied despite reduced profits
Hebrides: Manufacturer fortified by ‘exceptional’ previous period of sales
Iconic Scottish manufacturer Harris Tweed Hebrides (HTH) said yesterday a weaker financial performance in its last full trading year was explained by its previous “exceptional” results.
HTH, whose fabrics are showcased on the most exclusive catwalks and worn by some of the world’s
“Results reflect our aim to create a sustainable business”
biggest celebrities, made profits of £1.8million on turnover of nearly £9.4m last year.
Both figures were down from 2016, when the firm made profits of £2.4m on turnover of more than £10.5m.
Chairman Brian Wilson said: “The results are very satisfactory and reflect our aim over the past decade to create a long-term sustainable business.
“It’s clear in retrospect that we had a couple of exceptional years, mainly because of demand from Japan, which has subsided.
“Our business is now more evenly spread without the same exposure to a single market.”
The former UK trade and energy minister added: “In the course of the year, we completed a £2.4m investment in extending and upgrading Shawbost mill which is a big vote of confidence in the site. This week, we have been at (fashion industry event) Premiere Vision in Paris with a new collection which was very well received.
“We also have a few highprofile collaborations in the pipeline which will keep Harris Tweed Hebrides very much at the cutting edge of fashion and design.”
HTH took over a derelict mill at Shawbost about 10 years ago, when the Western Isles tweed industry was at its lowest ebb. The company now employs about 90 people and provides work for 150 independent weavers. passengers will only be allowed one free small cabin bag, such as a latop or handbag, which must fit under the seat in front.
If they want to take anything bigger on board, either in the cabin or the hold, it will cost them more.
Ryanair currently allows a second item of carry-on luggage to be transferred to the hold for free.
It has said the new charging system will help to reduce boarding times and flight delays by encouraging people to “travel light”.
But Italy’s competition watchdog – acting on complaints by consumer groups – has challenged the policy, saying it amounts to unfair commercial practice in that it hides the true cost of Ryanair’s fares.