Scottish Spar wholesaler CJ Lang & Son has reported a sharp rise in profits during a year it acquired 12 new stores.
According to recent reports, Dundee-based SPAR wholesaler reported a 14.2 per cent rise in net turnover to £253 million and an 8 per cent increase in pre-tax profits to £4m for the year ended 28 April 2024.
In the last year, the family-owned business, acquired 12 new company stores – three former Eddy’s Food Station stores, together with nine Scotfresh Group convenience stores. All of the new locations are now being converted into the SPAR Scotland family as part of the business’ continued investment over the past 12 months. This includes several major store refits at Kilwinning, Lawthorn and Erskine.
But the firm warned that its current financial year “presents challenges we must be prepared for”, highlighting rising costs, changing consumer habits, and supply chain "unpredictability".
"We had a very strong year," chief executive Colin McLean told The Herald. "A number of factors came together off the back of a strong summer. It was also the culmination of lots of investment. There were lots of new store acquisitions through Scotfresh. This time last year we were bringing those stores on board and Eddy's came on at the end of the financial year."
McLean said the business will prioritise maximising its current investments and assets such as the roll-out of its exclusive Barista Coffee opportunity, together with digital screens and electronic shelf edge labels which are helping modernise the overall customer shopping experience.
He added, “As a genuinely Scottish family-based business, we are well positioned to continue our journey to meet the needs and support of our customers with the best that SPAR Scotland can offer. Our stores serve communities of all sizes across Scotland; our customers are our neighbours. I would like to thank them, along with our suppliers, independent retailers and all our colleagues, for their continued support.
“Whilst we recognise there are still a number of opportunities to gain from our business turnaround at SPAR Scotland, we are delighted that the business has picked up a number of high profile awards over the past 12 months, at both local and international level.”
Regarding the upcoming Autumn Budget, chairman Jim Hepburn highlighted potential National Insurance contributions increase as an area of concern, saying that employment levels will likely be affected by the NI increase across the sector and wider market.
