Directors at white goods repair specialist Pacifica Group have hailed a boost in sales as well as progress against its strategic objectives.
The Houghton-le-Spring business, which was founded 21 years ago, has grown to become a leading provider of domestic appliance repairs and extended warranties, working with big name brands to deliver more than 400,000 repairs a year through its º£½ÇÊÓƵ network of engineers.
Now accounts for the business have been published for the year ending March 31, showing growth in volume, revenues and Ebitda, while highlighting good progress against its strategic objectives. The company reported an operating loss, though it had narrowed from the previous year.
In the year, Pacifica generated revenues of £36.1m, an increase of £2.6m from £34.5m in the previous year. Gross profit rose by £1.6m to 11.7m, while its gross margin percentage improved by three percent to 32.5%. Pacifica also chalked up a 22% increase in Ebitda to £1.1m and it narrowed the previous year’s operating loss from £1.185m to £772,533.
The overall loss for the year, however, grew from £1.355m to £1.524m.
During the year Pacifica won several strategic contracts including its relationship with Glen Dimplex Home Appliances (GDHA), to add to clients including Electrolux, Sony, Hisense, Vestel, Howdens (Lamona), LG, Argos and Shop Direct.
The contract commenced in April 2024, so will be included in Pacifica’s 2025 accounts, and includes the transfer of GDHA’s entire aftersales service department, including its field engineers. The additional engineers, which takes Pacifica’s field-based workforce to around 300 directly controlled engineers, help the company increase its º£½ÇÊÓƵ footprint.
The accounts show group employee numbers grew from an average of 462 employees to 473.
Pacifica’s warranty division also contributed to the company’s growth, securing new contracts to provide extended warranty products and support. It also acquired Retracare, the extended warranty arm of RETRA, the º£½ÇÊÓƵ trade association for independent electrical retailers.
During the period the group also appointed a new non-executive chairman, Martin Bennett, formally CEO of Homeserve for more than 14 years, joining the business as it prepares for significant growth in its appliance warranty arm of the business and expansion of services into other sectors.
Kevin Brown, CEO of Pacifica, said: “I am pleased to report that we remain in a strong financial position and have continued to make good progress against our medium-term objectives. This has been possible in the main by a combination of continued investment, organic growth, including the training of engineers utilising Pacifica’s in-house training facility, and increased focus on IT development to improve the customer journey and further improve efficiencies.
“We have secured a number of strategically important contracts across both appliance repair and warranty specialities, which have bolstered our strong relationships with blue chip companies in the market.
“Investments in the year ending March 31st have resulted in Pacifica experiencing a strong first half of our current financial year. The growth we are delivering is part of a continuing forward trajectory, which is enabling us to not only increase our presence in the MDA market, but define how services are delivered in the market, through technology-led infrastructure married with the capabilities and dedication of a highly skilled workforce.â€
