Scottish auctioneer posts another loss

08 April 1999

Scottish auctioneer posts another loss

LANARK-based auctioneer Lawrie & Symington posted an operating loss of £281,000 in the year to 31 December, highlighting the problems facing the sector.

The loss compares with a profit of £1.72m in the previous year.

Turnover fell from £2.01m in the previous year to £1.8m and other financial indices of the company were equally pessimistic.

Commission income fell by £421,693 in 12 months, while the company is now operating with an overdraft of over £700,000.

But there was some comfort to be had too – the firms balance sheet showed net assets valued at £7.17m.

This sum could be lifted if a decision is made to sell Olivers Mart at Gorgie in Edinburgh, which was closed last year.

  • The Scotsman 08/04/99 page 32

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