Waxed jacket maker Barbour saw revenues rise by £17.6m last year, despite being heavily impacted by the coronavirus pandemic.
South Tyneside based J Barbour & Son Ltd, which trades under the brands Barbour, Barbour International and Barbour Beacon, has published accounts for the year ended April 30 2020, showing a 7.8% rise in revenues to £242.8m, though operating profit dropped 14.5% to £35.1m.
Total income, meanwhile, dropped from £31.4m to £28.9m.
In a report accompanying the accounts, chairman Dame Margaret Barbour said the impacts of Covid-19 had been significant in the final quarter and that, despite revenues showing progress, overall group performance was down.
Dame Margaret said the rise in sales rested on “the strength of our brands and consistency of a long-term strategic focus despite a backdrop of unparalleled global uncertainty”, including continued major challenges on the High Street and intense competition in the marketplace.
In her business review, she said the profit figure of £28.5m marked a steady performance, supporting its financial resilience and ability to navigate the sustained challenges of foreign exchange.
Looking ahead, Dame Margaret said the firm’s balance sheet remains strong, with cash held in the business increasing to £97.4m from £87.2m, to help it to invest for the future of its brands and business. She said that “never has it been more important to the business than in the global Covid-19 pandemic crisis and the huge challenge it poses”.
Dame Margaret said the firm’s strategy is focussed on recovery, adding: “Navigating Covid-19 is central to our focus, staying close and connected to our consumers and customers, ensuring we invest strategically for the future of our brands and products.
Most Read
"Despite the current uncertainty and market contraction, we believe in the sustainable long-term growth of our business and as such we will continue to rest in our people, our systems and our service. Having implemented structural changes to prepare for Brexit, we will invest in technology and our brands to enhance further our sustainability credentials.
“We strongly believe there are many exciting and accessible markets around the world where our brands can add style and quality to consumers lives, as such we will continue to build relationships and expand our commercial reach and ambitions.”
Steve Buck, managing director at Barbour, said that the firm had been growing in all its key markets and product categories before the pandemic struck and said that challenges will continue this year.
He highlighted how the firm has continued to support manufacturing in the 海角视频 while also expanding its sustainability programme with Re-Loved garments, as well as the repair and re-waxing of its wax jackets, to extends their long life and make them one of the most sustainable garments on the market.
While the firm worked through impacts of the pandemic and Brexit, he outlined how the firm’s staff had pivoted to make PPE gowns, and also highlighted how it will be the staff who see the firm through the challenges ahead.
Mr Buck added: “From April–June 2020, we supported the local NHS Trusts by turning our South Shields factory over to make disposable PPE gowns. During this period Barbour made a total of 72,000 items to support the fight against COVID-19. There was no charge from Barbour to the Trusts for any pieces of PPE.
“The Barbour Foundation which supports charitable causes, health and scientific research programmes and women’s groups, primarily in the North East receives its generous funding from the shareholders dividend. Since its inception, The Foundation has donated over £24m to charitable causes.
“Financial year 2020/21 sees unique challenges both in terms of their severity and nature with much retail closed around the world and Brexit bringing significant additional costs and delay. As ever we will rely on the hard work and skill of our staff worldwide to get us through this.”