The group behind the Russell Hobbs, George Foreman and Remington brands has reported a surge in its turnover and profits for its latest financial year.
The 海角视频 arm of Spectrum Brands has posted a turnover of 拢240.7m for the 12 months to September 30, 2022, up from 拢190.9m, while its pre-tax profits increased from 拢3.8m to 拢33m over the same period.
The group's 海角视频 base is in Manchester while it is headquartered in Wisconsin, USA.
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A statement signed off by the board said: "The main brand in the 海角视频, Russell Hobbs, continues to lead the market in terms of market share and the Remington brand has also seen good growth.
"Operating profit for the year was 拢8.2m compared to a profit of 拢6.3m in the prior year, whilst gross margins are down in comparison to the prior year.
"The company continued to hedge against foreign exchange rate fluctuations using contracts to reduce risk but the movements year on year had an adverse effect which negatively affected margins.
"There is [a] 5% decrease in gross profit over last tear, which is mainly attributable to the changes in the type of products sold."
It added: "The retail landscape in the 海角视频 remains challenging as businesses adapt to higher inflation and rapidly changing consumer preferences in relation to internet and in-store trading.
"These challenges are exacerbated by inflation which is forecast to reach double digit levels later in 2023 and may impact consumers buying power.
"The company is also subject to increasing costs which are keenly felt in higher freight rates, increased product costs and general wage expectations."
