A boom in home decorating caused by Covid-19 lockdowns in the 海角视频 during 2020 led to a surge in Crown Paints' revenue and profits, according to new documents.
The business has reported a revenue of £212.8m for the 12 months to December 31, 2020, up from £184.5m, while its pre-tax profits rose from £8.8m to £16.9m.
The company, which can trace its roots back to 1777, is headquartered in Darwen, Lancashire, and has been owned by the Denmark-based Hempel Group since 2011. It also has a major manufacturing plant in Hull.
A statement signed off by the board said: "The original uncertainty around Brexit during 2020 has resulted in some cost increases around export and import of finished goods and raw materials, however, the potential risk in delays has eased during the start of 2021.
"Covid-19 provided significant uncertainty during 2020, however the impact on the pain industry has been favourable.
"The leadership team continue to watch for economic indicators and should demand reduce there are measures that the business can take to offset this.
"The directors use a combination of resources to mitigate the risks where possible.
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"These include a diversified product portfolio and a wide customer spread, enabling the business to maximise sales to as broad a market as possible, implementing flexible operating practices allowing the company to vary its cost base and using the assistance provided by the Government to limit the impact on profitability during the Covid-19 crisis.
"Both retail and trade paint markets in the 海角视频 remain highly competitive trading environments.
"However, business performance during the year has been robust with the demand increasing due to changing market conditions driving demand for home improvements.
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"This had led to a significant increase in revenues of 15.3%.
"The company has grown significantly in the retail sector due to the rise in [the] DIY market and managed to grow the trade sector despite significant impacts across many large scale construction projects impacting the market.
"In line with market forecasts, the company expects a reduction of market growth in 2021, returning to pre-pandemic levels."
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In February 2020 the company acquired Home Decor, a decorating retail store in Omagh, for £346,000.
Post year end work began on a £4.4 million expansion in Hull.
The huge industrial site is to welcome a state-of-the-art raw material and packaging warehouse facility, creating an additional 4,365 sq m of space.