Business

Profits double at Gordons Chemists chain

Gordons Chemist have reported profits of more than £2 million
 

BOTTOM line profits at Gordons Chemists more than doubled last year to £2.1 million.

The family-owned group saw turnover grow to £76.8m in the 12 months to April 2015, against £74.9m over the previous year.

The company runs more than 50 pharmacies and health and beauty stores in the north, making it one of the best known locally owned brands.

It also operates eight pharmacies in Scotland after branching out of Northern Ireland in 2007.

The firm sells a range of fragrance, make-up, skincare, electrical, and beauty products.

In addition to its network of stores, the company also runs the Gordons Direct website.

The directors said they were "satisfied with the performance during the year and do not anticipate any significant changes in the forthcoming period".

"The continued success of the business has been achieve by the people working in it," they added.

"There are many long serving members of staff and the relatively low turnover of personnel reflects the general policy of providing good terms and conditions of employment while dealing with staff as well as other stakeholders in the business, in a fair and consistent manner."

Staff costs remained steady at £10.5m with the payroll growing slightly to 645.

Directors improved the company's cash flow position during the year, with a £909,548 increase in cash in the 12 months compared to a £2.2m decrease in 2014.

As a result, net debt improved to £10.3m from £12.5m.

The company was founded in 1980 by brothers Robert and Neil Gordon in Donaghadee.

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