Reduced Profits For CR Smith

Dunfermline-based CR Smith has reported a profit of just £135,000 for 2010, 80% down from the £672,000 recorded in 2009.


Gerard Eadie, who has run the fmaily business since 1977, is planning to invest £600,000 in new vehicles, after investing £562,000 previously in new IT systems and a showroom revamp. Also in the plans is the upgrading of it's Cowdenbeath factory.


The brand got a significant boost in 1984 when they signed three year deals with both Rangers and Celtic for sponsorship of their shirts. 


Mr Eadie seems to be revelling in the challenge: "But we have always taken a very positive approach to our business and we are investing in what makes us strong and distinctive - our 
product and our presence. We're enjoying the challenge."


The chairman said: "CR Smith operates in a very tough market and current economic conditions have seen sales slow.


I wish CR Smith good luck. Investing during such volatile trading conditions is always a risk, but hopefully it will pay off for them.


You can find further reports at: http://www.bbc.co.uk/news/business-12591112 and http://business.scotsman.com/business/CR-Smith-offers-a-window.6725574.jp