Web-based dealer Cater-Kwik has reported a strong set of results for its 2019-20 financial year.
According to the firm’s latest annual report, publicly available from Companies House, in the 12 months to 30 April 2020 the company turned over £17.1m, 7% up on the 2019 financial year’s £16.0m.
Operating profit also rose by 4% from £697k to £728k for 2020.
MD Matthew Mayvers wrote in the report’s commentary: “The directors are more than satisfied with the performance of the business for the year ended 30 April 2020 and report exceptional progression over all recorded metrics.
“Growth and/or improvement has been achieved in all financial and customer satisfaction key performance indicators. The directors report continued development of personnel, product portfolio, IT capability and operational infrastructure.”
To mitigate the risks of the Covid impact, Mayvers detailed: “Cater-Kwik has cut costs and taken advantage of available incentives to manage the financial impact of the pandemic. Immediately prior to the nationwide lockdown, provision was expressed in terms of providing suitable IT and training to enable operations to continue seamlessly, ensuring all office-based employees had the capability to work from home if required.
“The management team, taking advice from our bankers, made rapid assessment of the availability and mechanisms for accessing all potential opportunities of government support and applications for these opportunities began immediately and included CBILS, the furlough scheme and deferred payment options.”
Following the first lockdown, he reported: “As the level of business returned, staff were recalled from furlough as and when required and the office was adapted to allow the gradual and safe reintroduction of employees to the workplace.
“Measures included repurposing all areas of the office to allow better than adequate social distancing, implementation of one-way systems, exclusion zones, multiple sanitisation mechanisms, daily office-wide antiviral fogging, procedures for wearing PPE and for the early flagging of potential cases and swift and safe preventative and reactive procedures for isolating those with suspected symptoms and minimising the capacity for, and potential severity of, adverse consequences to the business.
“Given the success of our mitigation measures, along with these strong financial results and the trading levels achieved post year end, the directors are optimistic about the future trading performance of the company for 2020/2021.”