A Dundee packaging company which was close to collapse has now achieved record sales.
At the end of 2018, factory manager Jimmy Urquhart was faced with a choice – see the company go bust or take the reins himself.
Now, Discovery Flexibles has achieved its best ever sales, with turnover of £16.2 million in the year ending December 31 2023, an increase from £15.6m in 2022.
Mr Urquhart, who joined the Kemback Street business as an apprentice 40 years ago, said last year was one of “continual improvement”.
He said: “It’s the first time since the early 1980s that this business has reported profits for five years in a row.
“We have broken and blasted through the £1m barrier for operating profit for the first time ever, hitting £1.2m.
“It’s been a record-breaking year for a business that was almost down and out back in 2018. It’s been quite a transformation.”
Discovery Flexibles producing biscuit packaging in Dundee
Discovery Flexibles has operated from the same site in Dundee since 1866.
Providing packaging for biscuits and confectionery are its main markets.
The company is secretive about its client list but Mr Urquhart says there can’t be many people in Britain who haven’t bought a product whose packaging was made in Dundee.
The business found success diversifying into industrial and beauty markets last year. It is also developing sustainable products Mr Urquhart describes as a “world first”.
He said: “Diversification into new markets helps smooth the bumps. As one sector is seasonally quiet another is busy.
“It makes sure that we are kept on our toes all year round rather than the peaks and troughs that we used to experience.
“We’ve worked hard at developing new sustainable packaging options for our customers in the drive away from plastics and expect to launch with a world first very soon.
“It’s an exciting time and I really hope that all the global issues that have caused chaos over the last few years are behind us and we can have a period of stability to just focus on growth.”
Pride in recovery of business
The chief executive said high energy costs and fluctuating raw materials prices remained a concern although “hopefully the worst is behind us”.
He has added to the workforce steadily, which now stands at 80 staff, as well as making strategic investments in equipment.
He said the company’s order book was around £500,000 ahead of the same time last year.
Mr Urquhart adds: “We’ve taken the business from £7.6m with 57 employees to £16.2m with 80 employees in only a handful of years.
“We have delivered an ever improving profit line every single year.
“I am immensely proud of that fact.
“But, as any business owner will tell you, you never really get the chance to reflect on it as you always try to beat the previous year.
“There’s no let-up – it’s all go, go, go.”
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