SCOTTISH jewellery maker and retailer Ortak is planning to open another store in Glasgow after its best sales success in years.
SCOTTISH jewellery maker and retailer Ortak is planning to open another store in Glasgow after its best sales success in years.
The firm, which already has stores at Princes Square and Argyle Street, as well as Braehead Shopping Centre, has announced record figures after a Christmas boost helped sales soar 10% for the last 12 months.
Like-for-like sales rose 7.6%, taking sales in 2007 to £6.9million, and the business is preparing to increase its high street presence with up to three new stores.
As well as a site in Glasgow, the company is looking to open another shop in the Central Belt and one in England.
The firm has 10 stores in Scotland and two in north England.
Ortak is a family firm, which was founded by Malcolm Gray in Kirkwall, Orkney, in 1967. It is now run by his sons Alistair and Stuart and employs 153 people.
Eight out of 10 Ortak customers are women, mostly 25 plus, looking for gift purchases.
Managing director Alistair Gray said: "It has been a very positive year for us, despite an extremely difficult trading environment.
"We traded extremely well during December, achieving record sales in the final week. Sales in the week to December 29 were up 78.3% on the same period in 2006.
"The mood throughout the company is extremely buoyant and we are predicting a very optimistic outlook for the year ahead."
Sales went up 14.1% over Christmas, marking a turnaround for the firm.
The firm made a pre-tax profit of £314,691 in the year to January 2007, after losing £45,134 in the preceding year.
Mr Gray expects a proportionate increase in profitability when an update for 2007-2008 is made in the spring.
Despite management concerns less than a year ago about the impact from increased competition overseas and being hampered by red tape, the good news continues for the firm.
It has announced that reaction from trade buyers has been extremely positive at its latest trade exhibition, and orders more than doubled following the launch of its new season lines.
