Ultimate Products, the consumer products group which sells brands including Russell Hobbs and Beldray, has reported “substantial growth” in its full-year results.
The Oldham firm, based out of Manor Mill, reported an increase in pre-tax profit of 51.1 per cent to £8.2m, up from £5.4m in 2018, while underlying EBITDA was up 53.4 per cent to £9.9m from £6.5m in 2018.
The group also saw revenue increase by 40.8 per cent to £123.3m, up from £87.6m the previous year.
The group attributed the revenue increase to growth across its four ‘strategic pillars’ - discounters, supermarkets, online platforms and international customers.
Ultimate Products reported international revenue increased 101.8 per cent to £48.5m, up from £24m in 2018 - 39.4 per cent of total revenue.
Online revenue meanwhile increased 63.2 per cent to £11.4m, up from £7m in 2018.
Simon Showman, Ultimate Products chief executive, said: “It is particularly pleasing this growth has been broad-based across all of our channels and customer types, with our online and international businesses continuing to trade particularly strongly.
“Our broadening customer base and the ongoing development of our portfolio of outstanding brands means that we have greater sales and profit diversification than ever before.
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“This has been achieved while maintaining the high levels of service and operational excellence that our customers have come to expect from Ultimate Products, and which set us apart from our competitors.”
Mr Showman said market conditions in the 海角视频 remained “challenging”, with an “uncertain environment for consumers, retailers and suppliers”.
However, it said current trading is in line with expectations and the order book for the 2020 financial year is “moderately ahead” of this time last year.
“Therefore, despite the wider market uncertainty, we remain confident in the future prospects of Ultimate Products,” he added.