Fife laundry firm’s revenue steams ahead after reopening Perth factory

Fishers is continuing its recovery from the pandemic despite "significant" cost increases.

By Gavin Harper

October 25 2023, 5:55am

Fishers' sales have soared with the lifting of Covid restrictions. Image: Kim Cessford/DC Thomson.

Fife commercial laundry business Fishers saw revenues increase by more than £17 million last year as it reopened its Perth factory.

The Cupar company lost 90% of its trade when the pandemic hit and in May 2020, closed its Perth laundry with the loss of 84 jobs.

However its recovery last year saw the firm reopen its Perth facility, creating 80 jobs.

Fishers saw revenue rise to £40.8m for the year to December 2022, compared to £23.8m in 2021.

The 72% increase was attributed to the emergence of the hospitality sector from Covid-related restrictions.

Fife laundry firm’s sales up £17m

But the business continues to bounce back, despite the challenge of significantly increased costs.

Its pre-tax losses were also reduced from £1.6m in 2021 to just over £600,000 for the reporting period.

A spokesperson for the Fife firm said: “Fishers’ 2022 financial results reflect the ongoing emergence of the hospitality sector from the impact of Covid-19 restrictions.

Michael Jones, managing director of Fishers.

“We saw a 72% increase in revenues year-on-year, but significant costs increases, including for natural gas and electricity, had an impact on margins.

“This resulted in the company recording a pre-tax loss for 2022, although this was significantly reduced from the previous year.”

Fishers’ recovery continuing in 2023

The firm said it is continuing its recovery in the current financial year, despite trading challenges.

The spokesperson added: “While we continue to face the challenge of severely increased energy costs, we are succeeding in securing price increases to offset these.

“This, alongside our disciplined approach to managing our operations, is contributing to a welcome improvement in margins.

“We remain committed to supporting our customers and will maintain our important role in the hospitality and cleanroom sectors.”

Fishers laundry plant at Inveralmond Industrial Estate, Perth.

Founded in Aberfeldy in 1900, Fishers has facilities at Coatbridge, Livingston and Newcastle.

The accounts also show its workforce grew by more than 100 last year. Fishers now employs a total of 685 people across its sites.

The business was sold to Canadian giant K-Bro in a £35m deal in 2017.

The spokesperson added: “Our parent company continues to report a consolidated financial position, including Fishers’ performance, on a quarterly basis.”