Scottish SPAR wholesaler and leading convenience retailer CJ Lang & Son Ltd has reported an increase in profit as it continues to implement its strategy for profitable growth. Solid growth of more profitable sales for the company saw pre-tax profits increase 10.7 per cent to £3.4m with margin up 0.3 per cent to 23.3 per cent. Turnover is down slightly, (0.1 per cent) to £212.3m. The long-established Scottish wholesale and community convenience store business, based in Dundee, has published its financial statement for the year ending 30 April 2022.
The results have been delivered against the backdrop of an extremely challenging economic climate which continues to drive changes in shopping behaviour. The relaxation of COVID-19 restrictions saw a return to some pre-pandemic shopping behaviours, while the habits of shopping locally were retained by a noticeable proportion of consumers who had discovered the benefits of shopping at their local convenience store.
Despite the challenging conditions, Company Owned Stores have grown in profitability, aided with the acquisition of Dalbeattie, the first such addition to the portfolio in over five years. Continuing to collaborate closely with their independent retailers, the team at CJ Lang & Son have also expanded the independent estate across the country, regularly engaging with them to drive growth to all customers. This includes the recent announcement as one of Scotland’s most successful convenience retailers, David Sands, joins SPAR Scotland.
“The previous 12 months saw changes continue in the retail landscape as we finally emerged from COVID-19 to move into the cost-of-living crisis and a very uncertain future globally," said CJ Lang & Son Ltd CEO, Colin McLean. "We know that there are tough times ahead for all and our primary focus is to offer a value proposition to help support our customers and staff through the ongoing uncertainty. Being solely Scottish focussed has enabled us to adapt quickly and react flexibly to the changing retail landscape and to continue to provide a first-class service to our independent retail customers, consumers and communities at a time when they have needed us most.”
The family-owned company has delivered its fourth year of growth in profitability, continuing to outperform the Scottish Retail market. Investments have been made in key resources, both within the Board and Executive Management Team to bring onboard further skills and experience, and within Company Owned Stores, with significant investment in Crosshouse, Gatehouse of Fleet, Spean Bridge and Balmacara in the last 12 months.
