The boss of Fife convenience store Greens is delighted by a landmark year which saw the company’s profits treble and sales top £26 million.
The business, which started with one Kirkcaldy shop in 2014, celebrated its first decade with a 40% year-on-year jump in turnover.
New accounts for Greens Retail Ltd show turnover increased by more than £8 million to £26.6m for the year ending March 31 2024.
Pre-tax profits more than trebled from £138,000 in 2023 to £454,000 last year.
From its humble beginnings, the chain had 21 shops at the end of the financial year.
Greens of Fife planning more growth
Greens director Harris Aslam said it had been a strong year with further growth in this financial year.
He said: “I was absolutely delighted with the performance. We’ve seen a lot of growth and a lot of profitability since the year end as well.
“We’ve been investing heavily in the business since its inception in March 2014.
“Ultimately, growth is a critical aspect that fuels our entire team.”
Since April last year, Greens has opened a further six sites to now have 27 shops in its portfolio.
Mr Aslam added: “Several other sites are in the pipeline.
“For us, it’s never been a numbers game and reaching a certain number of stores.
“The main number we are proud of is the number of jobs we are creating and the value we’re giving back to the economy.
“We want to continue on our growth trajectory. As I’ve always said from day one, if we stand still, we fall behind.
“We need to make sure we do the right things for the medium and long-term of the business.”
‘Tough trading conditions’
Mr Aslam said the business had achieved its strong results and growth despite “tough trading conditions”.
He describes the budget, which will mean minimum wage increases and National Insurance changes, as “challenging”.
But he added: “One thing about independent businesses, and especially family-owned independent businesses, is that we’re always quick to pull our socks up and adapt. That’s exactly what we’ve been able to do.
“It’s a business that’s Kirkcaldy born and bred. We have worked incredibly hard over the last 10 years and inevitably that’s coming to fruition and bearing fruit.”
Conversation