West of Scotland-based sports apparel business DFYNE has posted sharp rises in sales and profits in its second full year of trading. The business was founded in June 2021 by fashion industry executive Oscar Ryndziewicz, who is 31. Sales at OLR Holdings, which trades as DFYNE, jumped to £13.
57m in the year to January 2024 from £1.88m in the prior year. Pre-tax profits rose to £3.
83m in the 12 months to January, from £797,367 in the prior financial year. Net assets at the business rose from £456,847 to £2.29m.
Read more Ian McConnell: What really drove sale of famous Scotch whisky brand? Scottish house price rise forecast doubled but grave warning on rented sector DFYNE sells its UK-designed gym and sportswear globally via its website, with sales across the UK and elsewhere in Europe, the US and Australia. Mr Ryndziewicz, the company’s sole shareholder, said: “We are delighted with the financial results last year, but we believe the success has been achieved by focusing on some core principles, especially maintaining a strong focus on culture across our team, the athletes who promote our brand, our loyal customers through first-class customer service and designing excellent products. Read more Revealed: Scotland's Top 100 private companies Scotch whisky giant defies 'volatile' times with profits surge “The financial results mean that we are in a great position to continue our journey as a new business.
We are delighted that we have managed to grow turnover so signif.