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Acme re-focuses business after non-core operations closures

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Acme is looking to a stronger future after taking a hit in its 2018 financial results.

Restructuring is currently the name of the game for the Acme Facilities Group, the Blackburn-based distributor within the Pentland Group.

The firm took a hit in its 2018 financial results, in part due to the closure of its HVAC division.

According to its latest annual report, publicly available on Companies House, in the 12 months to 31 December 2018, turnover slipped by just under 15%, from £11.8m in 2017 to £10.1m last year.

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Operating losses also worsened from £0.7m to £2.0m, a fall of 183%.

In the report’s business review, it stated: “£0.4m of the loss relates to continuing operations, but some £1.5m relates to the HVAC division which ceased to operate in May 2018.

“The directors are disappointed with the performance of the business this year, which was impacted by winding down on discontinued operations. Steps have been taken to rectify this.

“The company will strive to seek opportunities for new work and achieve cost savings on an ongoing basis.”

Group MD Chris Allen told Catering Insight: “In 2018, we wound-down some non-core operations and re-focused investment on our healthy, well-established business units.

“We bore some exceptional costs in relation to this exercise, but our 2017 and 2018 results show strong and profitable core operations that we have continued to build on throughout 2019.”

Tags : Acmebusinessdealerdistributorfinancial resultsfinancials
Clare Nicholls

The author Clare Nicholls

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