CONVENIENCE store chain David Sands is forging ahead with new openings after unveiling double-digit increases in annual profits and sales.
The family-owned company, which operates 26 stores in Fife, Perthshire and Kinross, said it had three new outlets in the pipeline, in Markinch, Perth and Dunfermline, and reiterated that it planned to grow its network to more than 50 branches.
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ead of releasing its 2007 accounts to Companies House next week, chief executive David Sands said sales had grown 17 per cent to £29 million while profits had risen 16.5 per cent to £1.06m.
But he warned that he did not expect growth to be as strong in the current year.
He told The Scotsman: "We realised in spring this year that things had changed. We have adapted – for example, in a promotional period, we may have 300 to 400 products on offer, whereas before, it would have been no more than 250."
But he added that the current economic climate and potential legislation changes over the sale of cigarettes had opened up a number of opportunities for acquisitions.
David Sands, which was founded in Kinross in 1812, in August took on Ewen Chisholm as chief operating officer in what the company described as a "radical move" which would see a non-family member take over the day-to-day running of the business for the first time.
Sands added that his firm could cash in on the fallout from the credit crunch and added that customers' shopping habits were changing as convenience stores became more competitive in terms of both price and quality – encouraging time-strapped consumers to more regularly top up their weekly shop locally.
He said: "It is clear that some of our customers are finding it tough as they face up to the rising cost of living, with soaring utility bills and petrol prices.
"We see an opportunity to further strengthen the relationship we have with our regular shoppers who are perhaps using the bigger supermarkets less and opting instead to shop locally."
