Nisbets has vowed to continue its worldwide expansion as the group’s latest financial results suggest it will break the £200m sales barrier for the first time in its history this year.
Annual accounts filed earlier this month reveal the Bristol-based catering supplies giant posted sales of £194m last year, up 9% on the £178m it achieved during the previous 12 months.
It wasn’t quite able to match the same level of growth however, as the previous year its sales expanded 11%, albeit on a smaller figure.
Profit-before-tax, however, increased 3% on the same basis to £27m, whereas the previous year it remained flat.
Managing director, Paul McMahon, wrote on behalf of the board: “The directors’ plans for the continued development of the product range and the customer base both in the UK and abroad will include the continued development of the continental European markets, and further expansion and development of the Australian and USA subsidiaries.
“To achieve future growth the directors are also committed to maintaining a competitive pricing structure and the directors are seeking to introduce and grow new sales channels to expand the customer base in the UK and abroad.”
Nisbets now operates subsidiaries in the UK, France, Spain, Netherlands, China, Australia and the USA.
Average headcount at Nisbets grew from 764 people to 888 last year, bringing with it a £6m increase in operating costs to £50.7m.
McMahon wrote that management were satisfied with how the last financial year panned out.
“The directors are pleased with the performance during the year and believe that Nisbets Plc is in a strong position to sustain growth and expand its market share,” he wrote.