Blue Seal bucks Brexit uncertainty

Blue Seal posted a positive set of results for 2018.

Blue Seal has become one of the first major equipment manufacturers to report its 2018 results, due to its financial year finishing on 31 August 2018.

In the 12 months prior, the cooking appliance specialist posted a £17.1m turnover, nearly 5% up on 2017’s £16.3m total.

The vast majority of sales (£16.5m) were from the UK market, with £563,000 from the rest of Europe and £48,000 from the rest of the world.

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Furthermore, Blue Seal’s operating profit also rose by almost 16%, from 2.4m to 2.7m.

Director Greg O’Connell stated in the annual report: “In the uncertainty of economic conditions caused by Brexit, Blue Seal has continued to increase sales, not only to its top distributors but also across a wider spectrum of customers, with the Blue Seal, Turbofan and Waldorf brands all showing continued acceptance in the marketplace.

“As was the case last year, sales are continuing to increase as a result of Blue Seal’s participation in an industry buying group.”

He also predicted: “The directors expect the general level of activity to be maintained in the forthcoming year. We expect the market to be difficult due to the economic uncertainties resulting from Brexit.”

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