Directors of Johnstons of Elgin have seen their collective pay fall during a year in which the textile company’s profits surged.
Annual accounts for James Johnston & Co of Elgin show total directors’ remuneration was £567,000 in 2014, down from £719,000.
The highest paid saw a slight increase from £194,000 to £195,000.
The business, famous for its cashmere goods, recorded an underlying operating profit of £2.3 million in the year, up from a £377,000 loss.
Turnover increased from £51.6m to £58.7m as sales in the domestic market and overseas both grew.
In the UK turnover was up from £36.8m to £42.6m while in the rest of the world it went from £14.8m to £16.1m.
The firm, which has manufacturing facilities in Elgin and Hawick, saw its average staff numbers rise from 789 to 829 after increasing the workforce in its factories. The total employee costs rose from £17.4m to £18.35m.
Chief executive Simon Cotton has said the business continues to invest heavily in new equipment.
The order book going into the 2015 financial year was said to be strong.
Earlier this year the company, which can trace its roots to 1797, took over the running of a Johnstons of Elgin shop in Nantucket in the United States after its owner retired.
It has retail sites at both of its manufacturing plants as well as in St Andrews.
A London store, on New Bond Street, is to open in December this year.
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