Dundee firm goes from brink of collapse to doubling its sales

A Dundee manufacturer which was on the brink of administration has doubled its sales in just five years under new management.

Discovery Flexibles has operated from the same site in Kemback Street since 1866.

But the packaging firm came close to being shut down until general manager Jimmy Urquhart took the business over at the end of 2018.

“It would have been very easy to say that the situation was too far gone and let the business slide into oblivion,” he admits.

“There were too many skilled jobs within the walls of this factory to not try.

“The journey we’ve been on certainly hasn’t been easy but I believe that everyone within this business is really proud of what we’ve achieved and where we are now.”

Discovery Flexibles adding sales and jobs

In the 2017 financial year, Discovery Flexibles made sales of £7.7 million. – this figure has now doubled.

Newly filed financial accounts for 2022 turnover has now more than doubled to £15.6m.

Operating profit for the year to December 31 2022 rose from £561,787 in 2021 to £650,188 last year.

Mr Urquhart said: “2022 was another year of continued improvement with both turnover and profits improving.

“Momentum is with us and I aim to continue to build upon the success story that I feel we have become.

“We’ve taken the business from £7.6m with 57 employees to £15.5m with 80 employees and delivered an ever improving profit in every year of my ownership.

“This business hasn’t strung together four consecutive profitable years since the 1970s so it’s quite an achievement.”

Taking work from China to Scotland

He said the business has increased its sales again this year as it continues to grapple high energy prices and inflationary pressures.

Discovery Flexibles said a six-week skills academy, delivered in partnership with Dundee and Angus College, has helped with recruitment.

He said the company has recently picked up some work which used to go to China.

He adds: “China is no longer as attractive due to rising costs, extended lead times and the huge variability of container costs to ship things half way round the world.

“We’ve lots of production trials ongoing to deliver single use plastic reduction, plastic replacement and increased recyclability.

“We are also close to entering new market sectors for us which will further diversify our product portfolio. It’s all quite exciting.”