Sales at the 海角视频 branch of Hisense, the Chinese appliances and electronics manufacturer, surged by over £70m last year, it has been disclosed.
The Leeds-based division reported a turnover of £373.8m for 2024, a significant increase from the £300.4m it recorded for 2023, as reported by .
Newly filed accounts with Companies House also reveal that Hisense's pre-tax profit rose from £2.8m to £3.7m.
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Hisense stated its sales were bolstered by its strategy to offer customers discounts if they cleared their outstanding payments before the year's end.
However, despite the division's sales success, the company did highlight the impact of rising costs on its finances during 2024.
A statement approved by the board said: "Against this challenging background we are faced with higher costs."
"This can be seen with administration costs increasing by 28.53 per cent which compares adversely to the 24.44 per cent increase in turnover."
"The higher administration costs were mainly driven by a rise in rental and property management expenses due to office relocation. Alongside the distribution cost increasing by 32.91 per cent."
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"Nevertheless, the profit margin this year was 1.01 per cent in comparison to 2023 which was 0.94 per cent."
Hisense added that its debtors decreased by more than 30 per cent to £49.8m "primarily due to efforts to accelerate customer payments before year end by offering discounts for early settlements."
The company also stated: "In previous statements we have emphasised the need for a prudent approach to expansion."
"Given the current economic uncertainties in the 海角视频, we will maintain a cautious yet strategic growth strategy to ensure long-term sustainability."
"As traditional high street spending patterns evolve, our activities must adapt accordingly."
"To strengthen our market presence, we will continue promoting our brand both locally and internationally, ensuring that consumers seriously consider Hisense products when making purchasing decisions."