A continued decline in turnover and profits is expected at global beauty firm Amelia Knight for 2021 after this year "proved to be just as challenging as 2020".
The family-run Cheshire company, which manufactures private label and branded cosmetics, has revealed the forecast in newly-filed documents for its financial year to December 31, 2020
The Knutsford-headquartered business has reported a turnover of £32.9m for the year, down from £35.4m, while its pre-tax profits fell from £5.7m to £4.7m.
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The group started 2020 with the acquisition of a Staffordshire cosmetics company which grew its workforce to 500. The move followed its deal for Pascalle Ltd in 2019.
However, despite the expected falls in turnover and profits, the group said it is looking "future with great optimism" and that its recent acquisitions "will add to the group's profitability and growth in the coming years".
A statement signed off by the board said: "The directors are pleased with the group's performance after what has proved to be a very challenging and unusual year.
"As a result of the outbreak of the Covid-19 pandemic, our wholly-owned factory in China was forced to close in February 2020, stopping all overseas shipments and production.
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"We were able to open this again after approximately a month, however by this point virtually all of our customers were closed worldwide as the 海角视频 and other major economies locked down.
"Consequently, the group suffered substantial cancellations and delays to its order book.
"We moved quickly to the production and supply of hand gels and other related PPE products.
"The group was required to act swiftly and decisively at critical moments throughout the year and we have diversified when and where necessary.
"We have been fast on our feet in unknown territory and this has mitigated some of our lost revenue.
"We have supported our customer base worldwide with extended trading terms and unusual long-term support.
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"This has borne fruit as we emerge from the pandemic and move towards the end of 2021 and beyond."
On its trading in 2021, the group added: "2021 has proven to be just as challenging as 2020 as the group reorganises and recovers from the effects of the Covid-19 pandemic.
"Its impact on the transport and logistics sector has been substantial, both in terms of increased planning and costs in dealing with global supply chain disruptions.
"We expect 2021 turnover to be slightly down on 2020, as will profitability.
"The directors believe that the recent acquisitions will add to the group's profitability and growth in the coming years.
"Further investment is being considered as we seek to expand our operations. We look forward to the future with great optimism."