Sunday Times list confirms Moray firm's amazing turnaround
JOHNSTONS of Elgin has been named amongst the 100 companies in Britain with the fastest growing profits.
The cashmere textiles manufacturer has been placed 66th on the Sunday Times BDO Profit Track 100 league table.
It is the first time the company has ever featured in the list which has been in existence for the past two decades.
Its inclusion comes after the firm, which employs 956 people, posted a £10.3million profit during 2017 –representing a rise of 66 per cent.
This marks an impressive turnaround in the company's fortunes over the past few years. By contrast it lost £1.4million in 2012.
Johnstons now has four stores in the UK, including a flagship store on New Bond Street in London.
It is imminently due to open a fifth in Edinburgh.
The company is taking a 2,000 sq ft unit over two floors in Multrees Walk, already home to Harvey Nicols, Hugo Boss, Louis Vuitton, Mulberry and Burberry.
The company has run its mill since 1797, making it the second-oldest family business in Scotland.
The only other two companies included in the top 100 are the Balhousie Care Group, which is a Perth-based care home operator, and The Geddes Group, a construction and aggregate supplier with headquarters in Arbroath.