Dundee-based printer supplier Concept Group has hailed an “exceptional” rise in sales.
The firm, which is a wholly owned subsidiary of US print giant Xerox Corporation, has one of its six Scottish sites at Dundee Technology Park.
The office equipment supplier’s latest annual accounts show sales rose by 3% to £21.3 million for the year ending December 31 2018.
Pre-tax profits increased by 30% from £1.4m in 2017 to £1.9m last year.
Chief executive Kevin Paterson said: “This is considered an exceptional result and is the result of increased turnover, improved productivity and ongoing control of overheads.
“The marketplace remains extremely competitive and the company is very aware that it must continue to offer the best level of service possible and take advantage of opportunities to provide new products to its customers to achieve growth in the future.”
There was a slight decrease in staffing levels at the firm, from 191 in 2017 to 185 last year, with 94 employees engaged in production and servicing, 60 in sales and 31 in administration.
Salary costs had also decreased from £8.1m in 2017 to £7.8m in 2018.
Mr Patterson said the company continues to take advantage of the opportunity to increase its product portfolio in hardware and software, which is expected to present opportunities for growth.
It is the “financial strength” of Xerox Corporation that the firm believes will continue to present the opportunity for future growth and provide further security against key risks.
In July this year, as a result of internal reorganisation, Xerox Holdings Corporation became the ultimate parent undertaking.
Founded in 1984, Concept Group has increased its product range to include mobile printing solutions and 3D printers with design-to-print software and apps.
jimillar@thecourier.co.uk