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Tiso group goes back in the black with IT move
OUTDOOR equipment specialist Tiso Group has reported an increase in profit driven by a new IT system which improved its supply chain.
The Scottish retailer – which also includes the Alpine Bikes and George Fisher brands – saw turnover fall slightly to £27m for the year to 31 January. However a pre-tax loss of £100,000 was turned into a profit of £1.2m.
During the period the company completed its two-year strategic and operational review. As well as a new IT system it refurbished a number of stores and paid down £1.6m of bank loans to leave debt at £5.9m. Chris Tiso, chief executive officer, said: “This has been a strong performance for the group.”