Published: 05/10/2017 07:00 - Updated: 03/10/2017 11:28

Bosses satisfied with LifeScan's performance

Written byCalum MacLeod

 

LifeScan
LifeScan Scotland's base in Inverness.

DIRECTORS at one of the region’s biggest private employers are satisfied with its performance, despite a drop in pre-tax profit last year.

Turnover also fell at Inverness-based LifeScan Scotland, which is owned by US firm Johnson & Johnson.

The latest accounts for the firm – which is involved in the development and manufacture of advanced blood glucose monitoring products used by diabetics – also show the average number of employees fell by 65 in 2016, compared to the year before.

A strategic report accompanying the business’s latest accounts states: "Revenue has decreased five per cent year on year, primarily due to adverse market conditions including a difficult economic environment and strong competitive forces which have impacted pricing."

Turnover dropped from £141,722,000 for the year ended January 3, 2016 to £134,630,000 for the year ended January 1, 2017. For the same period, pre-tax profit moved from £64,970,000 to £50,896,000.

"Overall the directors are satisfied with the performance of the company during the year and its financial position at the year end," states the report.

The average number of employees decreased to 1048 last year from 1113 for the previous 12 months. But staff costs for the period increased from £46,624,000 to £48,015,000.

The firm outlined its future outlook, stating: "The development of new and existing products and processes continues to be important to the success of the company in all areas of the business. Directors remain confident that the company will continue to perform well."

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