Acquisitions on the agenda for buoyant Creightons
Peterborough consumer goods manufacturer Creightons plc saw its share price head handsomely north after posting revenue 28.9 per cent up and operating profit 43.7 per cent ahead for the year to March 31 – despite the twin menaces of Covid and Brexit.
UK shareholders warmly welcomed the preliminary results as revenue shot up to to £61.6 million from £47.8m last time. Operating profit increased to £5.4m and profit after tax rose by £1.1m to £4.3m (2020: £3.2m).
Management say they are watching out for acquisition opportunities subject to fit.
Creightons says the balance sheet remains strong after significant investment in working capital, product development and fixed assets to support growth.
Net cash in hand is more than double the 2020 figure – £6.2m as opposed to £2.8m.
The company reports significantly increased sales of hygiene products under its Pure Touch Brand.
Chairman William McIlroy, said: “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.”
Managing director Bernard Johnson added: “The team across the group has performed exceptionally well to cope with challenges and pressures associated with the Covid-19 pandemic.
“We have been able to keep our employees working in a safe environment throughout the pandemic and responded to the requirements of our customers.
“We will continue to invest in the development of our people, sustainable production capabilities and are open to the acquisition of new brands with a digital presence.”