Brandpath Group, a company previously owned by Dragons’ Den star Peter Jones and sold to DHL at the end of 2024, returned to profitability before the deal was finalised, according to recent revelations.
The firm, which was part of the PJ Investment Group, offers global fulfilment services to e-commerce businesses and counts Google among its clients, as reported by .
It was announced in early December 2024 that Peter Jones had sold a majority stake in the company to DHL Supply Chain for an undisclosed sum. Despite the sale, Jones will continue to chair Brandpath Group while the management team remains unchanged.
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Newly-filed accounts with Companies House for the Milton Keynes-based firm reveal that the business posted a pre-tax profit of £24,350 for the 12 months to 30 April, 2024. This is a significant turnaround from the previous financial year when the group reported a pre-tax loss of £225,106.
This marks the first pre-tax profit the group has reported since the £2.7m it achieved in the year to the end of April 2021. However, the new accounts also show a decrease in turnover from £14.6m to £12.1m over the same period.
A statement signed off by the board said: "Brandpath Group had a successful year, posting a profit before tax and growing operating profit by 11 per cent."
"The group also expanded its global footprint by opening a new facility in the APAC region."
"Brandpath delivered a healthy EBITDA [earnings before interest, taxes, depreciation and amortisation] profit and continued to invest throughout the year in line with its long-term strategy for growth."
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The financial results for Brandpath Group have been released following a report by City AM in July 2024 that Jessops, the camera retailer owned by Peter Jones, was unable to recover from its losses as sales continued to decline despite efforts to attract younger customers.
The Leicester-based company, which has entered administration three times since October 2019, reported a turnover of just under £20m for the year ending 1 October 2023, down from £21.5m the previous year.
Consequently, the company posted a pre-tax loss of £1.20m, a slight decrease from a pre-tax loss of £1.22m in the preceding 12 months.