Liverpool-based display and counter specialist Counterline has posted a consolidatory set of financial results for the year ended 30 June 2018.
Now publicly-available on Companies House, the latest report states that turnover has risen by 2%, from £10.3 to £10.5m.
Operating profit reduced slightly, from £362k to £321k, representing an 11% fall.
The directors analysed in the report: “The company’s performance in the latest filed accounts has seen a small increase in turnover whilst maintaining gross margin and resulting in profitability similar to the previous year. The balance sheet has strengthened further this year through an improved working capital position and reduction in long term debt. The directors are satisfied with the year’s performance.”
MD Tim Flood told Catering Insight: “From winning the Queens Award in 2018 to working with some of the world’s biggest brands, Counterline continues to strengthen its position in the home and export markets. This is now our 13th year following our MBO in 2006 and looking forward into 2019/20 one of the most exciting.
“We have continued to strengthen the Counterline brand and promote our business through our national and international activities.”
He detailed: “Over the course of the current year we have increased our workforce, now employing 177 people across our three sites. We have significant investment planned of just over £500k in 2019 with the addition of the most up to date CNC machinery as we prepare for the coming years.”