Technical textiles manufacturer Scott and Fyfe has announced strong results despite ongoing geopolitical conflicts and rising costs.

The employee-owned company based in Tayport, Scotland, started out as a linen works in 1864 and today, its 90 specialists engineer technical textile solutions for sectors such as agriculture, automotive and construction that help its customers enhance efficiency, cut costs and minimise environmental impact.

Newly filed accounts for the year ending 31 December 2024 show sales of over £17 million with an operating (pre-tax) profit of £1.14 million compared to £1.09 million in 2023. A net profit of £1.2 million represents sustained profitability, maintaining the significant turnaround achieved in 2023, with the gross profit of £6.4 million (38% of sales) representing an increase from £6.2 million (34% of sales) in 2023.

Building on this strong momentum, the company has achieved a 22% year-on-year increase in sales revenue during the first quarter of 2025.

Led by a newly appointed board of directors, the company is also expanding its workforce, including the recent arrival of a new commercial director, quality leader and process engineer. Recruitment efforts are also underway for various roles, ranging from machine operators to administration.

Michelle Quadrelli, appointed managing director in 2023 after 20 years with the company, views the accounts as a testament to stability and sustained strong performance, building on the success of the previous year.

 “This past year brought significant challenges but through adaptability and perseverance our team achieved outstanding results, further reinforcing our strength as a business,” she said. “Committed to ongoing investment and growth, we successfully navigated market downturns while strengthening our team to enhance existing value streams and seize new opportunities.”

With 94% of sales exported, sales to the USA and Canada have increased by 14%, while sales to the EU have grown by 28%. Closer to home, across Scotland and the UK, the company is also actively exploring a number of opportunities in emerging markets.

“Our relentless determination to combine Scottish expertise with global innovation to engineer cutting-edge technical textile solutions and advanced materials continues to reshape our customer landscape,” Ms Quadrelli said. “Our inventive developments in pipe fabric technology and attachment solutions have fuelled growth and enhanced business performance, countering a decline through market volatility within the agriculture sector. We have also maintained our investment in new product innovations, ensuring a robust pipeline of opportunities as we move into 2025.

The news coincides with a rebrand for the company.

 “With over 160 years of textile expertise, Scott and Fyfe has evolved from a traditional linen maker into an employee-owned, global leader in advanced technical textiles,” Ms Quadrelli added. “Our legacy is rooted in innovation, craftsmanship, and a commitment to shared success and our new brand embodies continuity, stability and connectivity.

 “I would like to acknowledge the dedicated efforts of all Scott and Fyfe employee shareholders over the past year and express my gratitude for their commitment and resilience during volatile and uncertain market conditions. At the heart of our employee ownership philosophy is the drive to empower employees to strive for excellence and benefit from the rewards of share ownership.  Our commitment to strengthening the employee ownership ethos within Scott and Fyfe remains unwavering, and we believe the solid foundation we have built will support our future success.

 “Today's business landscape is driven by rapid innovation, digital transformation and evolving consumer expectations. While companies gain access to global markets and advanced technologies, they must also navigate economic uncertainty, geopolitical tensions and increasing regulations. Sustainability and ethical practices are becoming key priorities, requiring a balance between profitability and responsibility. At Scott and Fyfe  we are pushing the boundaries of textile engineering, ensuring we remain industry leaders for years to come.”

www.scott-fyfe.com