30th Dec 2021 08:40
(Alliance News) - Creightons PLC on Thursday revealed a fall in profit and revenue, as one-time sales during the virus pandemic weren't repeated, but it kept its interim payout unchanged, citing strong underlying business momentum in its half year.
In the six months to September 30, pretax profit fell by 22% to GBP2.3 million from GBP2.9 million.
The Peterborough, England-based consumer goods company reported a 7.3% fall in revenue, dropping to GBP30.0 million from GBP32.4 million in the same period the previous financial year. Revenue from core business - meaning excluding hygiene products and acquisitions - increased by 40% to GBP29.2 million from GBP20.8 million.
Creightons makes personal care and beauty products, ranging from shampoo, cleansers and sleep aids and including the Pure Touch handwash and sanitiser brand.
Creightons said it had "better than expected" success in replacing the previous year's hygiene sales that had been thanks to the Covid-19 pandemic, offsetting the loss of GBP11.5 million in one-off hygiene sales recording in the same six months a year ago.
"These hygiene sales were very significant so to have substantially replaced in the first half by growth in core sales across branded, private label and contract business units before the full impact of recent acquisitions reflects the underlying strength and momentum of the business," Creightons said.
Despite the drop in revenue and profit, Creightons maintained its interim dividend at 0.15 pence.
Looking forward, Creightons said it will remain proactive in its response to the challenges of supply chain pressures and will endeavour to mitigate any price increases through price recovery, product re-engineering, and other cost control measures.
Shares in Creightons were up 7.0% at 93.90p on Thursday morning in London.
By Heather Rydings; [email protected]
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