Hallmark maintains strong financials in the face of Brexit impact

Hallmark Kitchens has produced a strong set of results for 2017.

Edenbridge-based distributor Hallmark Kitchens has performed well financially in the 12 months to 30 September 2017, according to the firm’s latest publicly-available filing on Companies House.

The 2017 annual report shows that gross profit and operating profit have both risen from the previous 12 months, with the former increasing 4% from £1.47m to £1.53m and the latter growing from £117,000 to £132,000, 13% up.

However, turnover was down slightly, from £8.02m in 2016 to 2017’s figure of £7.8m. That represents only a 2% cut though.

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The company’s directors (Kevin Jennings, Chris Douglas and John Carlton) stated in their report: “We are pleased to report that in the light of Brexit and the fluctuating fortunes of the strength of GBP against the Euro and USD, the financial results for 2017 show a strong performance.

“Whilst turnover was slightly down, our profit compared with the prior year was up and reflects the continued success in the development of Hallmark’s strategic plan.”

They added: “Hallmark’s exposure in the sophisticated fine-dining restaurant market continues to gather momentum and we have this year worked on two high profile projects for Michelin-starred chefs that opened in early 2018.”

Looking ahead, they analysed: “Moving into 2018, we have a strong pipeline of confirmed orders and the catering sector remains buoyant in both the self-generated and tender arenas; we are therefore cautiously optimistic for the year ahead.

“We are looking to strengthen our in-house sales force and believe that the continued development of one-to-one relationships gives Hallmark the flexibility to be more selective on the contracts undertaken.

“We cannot however ignore the potential impact of the continuing Brexit negotiations but with the dedicated and focused management team at Hallmark, we are confident of our ability to foresee the challenges ahead and react accordingly to market pressures.”

In recent months, Hallmark has also expanded its service and maintenance division after a steady rise of reactive service work and planned preventative maintenance (PPM) contracts.

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