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Lifescan in Highland capital 'not severely impacted' by Covid pandemic although staff reduced

By Andrew Dixon

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The Lifescan building in Inverness.
The Lifescan building in Inverness.

THE average number of employees for one of the region’s biggest private employers dropped by 145 during the Covid pandemic, according to its latest accounts.

LifeScan Scotland in Inverness appears to have lost more than 200 of its 697 production staff while its product development team was slashed from 83 to 23. But it more than doubled its administration ranks to 264. Overall it moved from 906 to 761.

The move reduced staff costs for a period from December 29, 2019 to January 3, 2021. Details for the previous comparative period showed remuneration for employees moved from £44,555,000 to £40,680,000.

It also recorded a drop in turnover and pre-tax profit.

The company continues to develop and manufacture advanced blood glucose monitoring products used by diabetics.

A strategic report accompanying the figures stated: “Despite the decrease in revenue during the period, overall the directors are satisfied with the company’s continued generation of profits and with the financial position of the company at year end.”

It went on: “The markets in which the company operates are expected to remain competitive in 2021. The directors remain confident that the company will continue to perform well in the future.”

Revenue dropped from £72,620,000 in the previous period to £57,389,000 in the latest accounts. Over the same period, pre-tax profit dropped from £7,357,000 to £5,077,000.

The report added: “At the time of signing these financial statements, the company had not been severely impacted by the outbreak of Covid-19. The timing and extent of the impact and recovery from the Covid-19 outbreak is unknown but may have an impact on the company’s activities in an uncertain global market.”

The firm also continues to monitor updates related to Brexit.

Platinum Equity Capital Partners is its ultimate parent company.

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