Jacob & Turner realises record profit

Scottish outdoor clothing manufacturer Jacob & Turner has announced its largest profit to date. The Glasgow-based company, owned by the Khushi brothers, reported a pre-tax profit of £11.4 million on a turnover of £40 million for the year ended 30 June 2005. The company's label, Trespass, was established in 1984 especially for the ski market, but has evolved into a general outdoor clothing brand. The company was founded in 1938 and was bought by its current owners in the 1960s. The brother Khushi are one of the UK 's richest Asians, with an estimated combined fortune of £75 million.

Since 2004, the company has spent more than £8 million on capital development and directors' pay was sharply reduced. In 2005, turnover dropped for the first time in at least a decade. Thanks to reduced expenses pre-tax profit was almost £900,000 more than the previous period. The final £7.8 million profit was transferred to reserves, which was then spent on capital expenditure.