21st Jul 2021 15:49
(Alliance News) - Creightons PLC on Wednesday reported a rise in pretax profit and revenue for its most recently ended financial year, as sales growth momentum was maintained despite the impact of Covid.
Shares in Creightons were up 8.7% at 78.25 pence each in London on Wednesday afternoon.
Peterborough, England-based Creightons is a consumer goods manufacturer.
Pretax profit for the financial year that ended on March 31 was GBP5.2 million, a rise of 44% year-on-year from GBP3.6 million. Revenue totalled GBP61.6 million, a rise of 29% year-on-year from GBP47.8 million.
Whilst the company has faced a number of challenges since the outbreak of Covid-19 and has incurred significant costs associated with managing the risks associated with Covid-19, it has also found opportunity to deliver hygiene product types sought by consumers and health care providers during the pandemic.
Sales of hygiene related products contributed GBP14.6 million to total revenue compared to the prior year in which the firm did not sell these products.
While group sales have been negatively impacted across private label and contract sales streams, decreasing by 6% to GBP1.4 million and 7.6% to GBP1.0 million, respectively, branded sales have more than doubled in the period, with the Pure Touch hygiene brand delivering GBP14.6 million of sales.
Sales growth of its branded products was driven by higher retail position brands such as Feather & Down, which continues to perform with current customers and extended distribution, and The Curl Company with wider distribution in both the UK and overseas.
The company proposed a final dividend of 0.50 pence per share, unchanged year-on-year. Together with the interim dividend of 0.15p per share paid last December, the total dividend paid for the year ended March 31 is 0.65p, also unchanged year-on-year.
"The group has continued its recent trend of delivering year on year organic sales growth supplemented by the sales of hygiene products, delivering continued improvements in operating profit. The cash generated by the group's growth puts it in an excellent position to take advantage of any new opportunities that may arise," said Chair William Mcilroy.
By Amrit Sahota; [email protected]
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