Award-winning Scottish textiles company, Scott and Fyfe, is announcing a consecutive year of strong results and outstanding performance despite ongoing geopolitical conflicts and rising costs.
An employee-owned company which addresses global issues from its base in Fife, based in Tayport, Scott & Fyfe started out as a linen works in 1864. Today, with a clear focus on design and innovation, the company’s growing team of 90 specialists engineer cutting-edge technical textile solutions and advanced materials that transform industrial performance.
By combining Scottish expertise with global innovation, the company develops high-performance solutions that help industries enhance efficiency, cut costs, and minimise environmental impact. Addressing diverse challenges across sectors such as agriculture, automotive, and construction, the company drives progress on a global scale.
From engineering fabrics that reinforce structures to sustainable materials that drive environmental progress, Scott and Fyfe design and create high-tech fabrics and composite materials that industries use to make their products better, stronger, and more efficient.
Newly filed accounts for the year ending 31 December 2024 show sales of over £17M with an operating (pre-tax) profit of £1.14M compared to £1.09M in 2023. A net profit of £1.2M represents sustained profitability, maintaining the significant turnaround achieved in 2023, with the gross profit of £6.4M (38% of sales) representing an increase from £6.2M (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.
Ms Quadrelli said, “This past year brought significant challenges but, through adaptability and perseverance, our team achieved outstanding results, further reinforcing our strength as a business. Committed to ongoing investment and growth, we successfully navigated market downturns while strengthening our team to enhance existing value streams and seize new opportunities.”
Meanwhile, 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.
Ms Quadrelli continued, “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. 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 the company’s rebrand, which aligns with Scott and Fyfe’s success in innovation and partnership working.
Ms Quadrelli explained, “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. Our legacy is rooted in innovation, craftsmanship, and a commitment to shared success. Our new brand embodies continuity, stability, and connectivity, visually representing our core values of innovation and design through a bold, modern identity.”
Ms Quadrelli also attributes the company’s success to Employee Ownership, adding, “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.”
Looking to the future, Ms Quadrelli said, “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, our heritage, progressive design, and commitment to innovation push the boundaries of textile engineering, ensuring we remain industry leaders for years to come.”
For more information, visit www.scott-fyfe.com