Lyle & Scott grows profits amid surge in overeas sales

LYLE & Scott, the leisurewear firm that began life in the Borders, has increased profits about 40 per cent after achieving strong growth in overseas sales,

The latest accounts for the company show it made

£4.6 million pre-tax profit in the year to March, up from £3.2m in the preceding year.

Overseas sales rose about 20 per cent to £11m. UK sales increased by 1.5 per cent to £22.4m.

Writing in the accounts, directors said market conditions had been challenging. They noted the company had widened its product offering. Once focused on golfwear, the company’s range also includes clothing targeted at young men and trainers bearing its golden eagle logo.

The company has invested heavily in its e-commerce offering. A new website platform has been instrumental in helping the firm deepen its understanding of its customer base.

Lyle & Scott has continued to invest in in-store retailing. Directors are confident in the long term appeal of the brand.

Founded in Hawick in 1874, the firm still has operations in the town. It is owned by Midlands-based accountant Susan Watson.

The company paid £1.3m dividends in the latest financial year and £1,900,000 in the preceding period. The monthly average number of employees rose to 136 from 131.