Johnstons of Elgin has disclosed a profit before tax of £3.9m on sales that were up 28% on the prior year at £66.4m.
Demand improved progressively through 2021 and the company exited the year with employee numbers at a similar level to before the pandemic in 2019.
The company employs around 1,000 people.
The financial update stated that the outlook for 2022 is good, with sales expected to exceed pre-pandemic levels, though there are “some headwinds” in terms of cost inflation that will start to filter though in the latter part of the year and into 2023.
Chief executive Chris Gaffney commented: “2021 was a year of recovery for Johnstons and we are pleased to have bounced back so strongly.
“The skill of our craftspeople and the creativity of our design team, allows us to manufacture beautiful products that live for a long time in our customers wardrobes, whilst our use of natural fibres and control of our supply chain, through our mills in Scotland, enables us to better manage our environmental and social footprint.
”This combination makes us a strong partner for the luxury brands we work with and an engaging consumer brand in our own right,” he continued, adding: ”The future is therefore positive, and we expect to continue to recruit staff and invest in additional capacity in the coming years.
This October will mark the 225th anniversary of the founding of the business by Alexander Johnston. The family owned manufacturer and retailer specialises in cashmere and fine woollens.
Founded in 1797, it runs two mills in Scotland in Elgin and Hawick. The company also has retail visitor centres sited at its mills, along with a shop in St Andrews, an online store and flagship stores at 77 New Bond Street, London and 11 Multrees Walk, Edinburgh.
In 2021, Johnstons of Elgin opened two outlets at Kildare in Ireland and Gretna in the south of Scotland.
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