2nd Sep 2020 11:47
(Alliance News) - Consumer goods firm Creightons PLC on Wednesday reported an annual earnings rise and said it has so far negotiated the Covid-19 pandemic without any real hurt, thanks in part to boosted demand for hygiene products.
In the year ended March 31, revenue increased 8.6% to GBP47.8 million from GBP44.0 million. Pretax profit climbed 24% to GBP3.6 million from GBP2.9 million.
"The group has continued its recent trend of delivering year-on-year organic sales growth supplemented by the contribution from the acquired brand, delivering continued improvements in operating profit," Chair William McIlroy said.
Creightons raised its annual payout by 45% to 0.55 pence per share from 0.38p.
Creightons said Covid-19 resulted in GBP400,000 in lost sales in the year ended March, as well as a small climb in operating costs.
Since then, the company said it has seen increased sales due to a "pivot to supplying hygiene products".
Managing Director Bernard Johnson said: "The team across the group has performed exceptionally well to cope with challenges and pressures associated with the Covid-19 pandemic.
"The strong financial position of the group has allowed it fund these changes, whilst supporting some customers through a difficult period. We are glad to say that the team has continued to grow and develop, and we have lost no customers."
Shares in the company were 0.9% higher at 55.00p each in London on Wednesday morning.
By Eric Cunha; [email protected]
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