Pre-tax profit rose for an Inverness construction equipment supplier.
Highland Industrial Supplies – which files as HIS Holdings – also sells to the engineering, agricultural, manufacturing, hotel and restaurant industries, as well as to the public.
The company is also involved in the leasing and development of commercial real estate.
Revenue also increased for the year ended January 31, 2022.
A strategic report accompanying the company’s latest accounts said: ‘Previous year’s figures were affected by government restrictions due to the coronavirus pandemic. Sales increased in all sectors, with only our hotel and restaurant supplies still being impacted by the restrictions.
“During the year, we expanded our range of building materials to include roofing products.
“Our internet sales have seen significant growth and we continue to invest more in our website, with many products being added daily for customers to view and purchase items online.”
Turnover rose from £42,618,612 in 2020/21 to £55,629,949 for the following 12 months. For the same period, pre-tax profit rose from £1,870,029 to £2,834,518.
The report adds: “The main business risks and uncertainties affecting the group are considered to relate to the impact of the crisis in Ukraine, the cost of living crisis, competition from national and independent retailers and Internet sales. .
“The current economic climate will continue to bring difficult times ahead. Current global politics and the effect of Covid-19 have resulted in a nationwide supply shortage as well as increased fuel and power costs.
“The group has worked successfully to secure contracts and strengthen relationships with existing and new suppliers to best mitigate the situation.
“Cost control remains important to the business and as such, directors regularly review cost levels and key ratios to ensure costs remain at an acceptable level.”
The average number of staff fell from 221 in 2020/21 to 215 in 2021/22, while payroll costs fell from £7,168,143 to £7,879,031.