Summary
THE venerable Lithgow family business has eradicated a massive bank overdraft - the scale of which had prompted a cautionary note from its auditor - by generating more than Pounds12m from sales of redundant brownfield sites now earmarked for housing.
However, the Landcatch salmon farming-to-Buckie Shipyard group's pre-tax losses worsened from Pounds4.46m to Pounds5.29m in 2003, highlighting the challenge faced by the business as it strives for profit.See the full content of this document
Extract
Lithgows Receives Clean Bill of Health From Auditors
The sale of six brownfield sites in central Scotland to a 5050 joint venture development company it has formed with property group Terrace Hill has put Lithgows' finances on...
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