Bosses at timber business A&J Scott say they are pleased with the company's performance, having reinvested profits in its Northumberland operation.
Directors of the sawmill firm, which supplies timber for use in fencing, pallets and construction, said they are confident it will continue to grow on the back of its latest set of accounts. Documents filed at Companies House compare an extended 15 month-period to the end of March with the 12 months to the end of 2021 - and show trading was broadly similar.
The Wooperton firm reported turnover of £53.1m in the 15 month period, compared with £45.9m in 2021. From that it generated operating profits of £10.5m in contrast to £9.8m the year before.
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The accounts cover a period in which A&J set out plans to expand its 143-strong workforce by around 25 people by May next year. The firm pointed to £25m of investment in sawmill equipment over the last decade which included the installation of a new log sorting and grading line on a 20-acre piece of land acquired.
At the time, bosses said the now 40-acre Northumberland site was earmarked for development of further production facilities. A second phase of investment - including upgrading of a main sawmill - was completed in March this year and was said to have boosted production.
More recently, plans were approved for the firm to put 4,500 solar panels at its Northumberland base. The solar farm will be used to power the plant - a move A&J said will allow it to reduce its dependency on fossil fuels used to drive its energy-intensive operation.
In a review accompanying the accounts, company secretary Judith Scott said the recent years of investment had allowed the firm to establish itself as a market leader in British timber. She said: "The Scott family shareholders are firm believers in reinvesting profits back into the business to fund modern state of the art sawmilling equipment to ensure we improve efficiency and maintain competitiveness to enable us to best support our increasing customer base.
"A&J Scott Ltd continues to explore avenues to increase capacity in both sawmilling and secondary processing."
Commenting after publication of the accounts, managing director Robert Scott said: "We are delighted with these results, and the opportunity created to invest further in the future of the business. In the last two years we have invested substantially in new equipment and machinery, as well as the sustainability of our site through our solar array.
"We are planning further investments in the years ahead and are also pleased to have been accredited recently to the North of Tyne Good Work Pledge. This strengthens our competitive position in the challenging macroeconomic climate of the year ahead."
A&J Scott was established in 1960, and continues to trade from its original location.
