A Tayport-based textiles company has announced a year of ‘strong results and outstanding performance’ despite ongoing geopolitical conflicts and rising costs.
Scott and Fyfe started out as a linen works in 1864. Today, the company engineers technical textile solutions and advanced materials designed to transform industrial performance.
Accounts for the year ending 31 December 2024 show sales of over £17 million with a pre-tax profit of £1.14 million (2023: £1.09 million). A net profit of £1.2 million represents sustained profitability, maintaining the turnaround achieved in 2023, with the gross profit of £6.4 million representing an increase from £6.2 million the previous year.
The company revealed it has achieved a 22% year-on-year increase in sales revenue during the first quarter of 2025.
Led by a newly appointed board, the firm is also its workforce, including the recent arrival of a new commercial director, quality leader and process engineer. Recruitment efforts are also underway for roles ranging from machine operators to administration.
MD Michelle Quadrelli said, “This past year brought significant challenges but, through adaptability and perseverance, our team achieved outstanding results, further reinforcing our strength as a business. Committed to ongoing investment and growth, we successfully navigated market downturns while strengthening our team to enhance existing value streams and seize new opportunities.”
Sales to the USA and Canada have increased by 14%, while sales to the EU have grown by 28%. Closer to home, across Scotland and the UK, the company added that it is actively exploring a number of opportunities in emerging markets.
Ms Quadrelli added, “Our relentless determination to combine Scottish expertise with global innovation to engineer cutting-edge technical textile solutions and advanced materials continues to reshape our customer landscape. Our inventive developments in pipe fabric technology and attachment solutions have fuelled growth and enhanced business performance, countering a decline through market volatility within the agriculture sector. We have also maintained our investment in new product innovations, ensuring a robust pipeline of opportunities as we move into 2025.”
