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Counterline records 25% trade expansion in 2019

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Counterline posted a very positive set of results for its 2019 financial year.

Liverpool-based specialist foodservice display manufacturer, Counterline, has recorded its best financial results in years in its recently-published annual report for 2019.

The figures, publicly available on Companies House, show that for the 12 months to 30 June 2019, the firm recorded a 25% turnover increase, from £10.5m to £13.2m.

The company’s operating profit grew by an even higher 41%, from £321k to £454k.

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In the report, Counterline’s company secretary, Simon Dutton, stated: “The company continued to focus on identifying more profitable product groups and areas of business. Targeting new geographic markets and sectors continues to be successful whilst maintaining the company’s reputation for product development, quality and service.”

He also revealed: “It has continued to invest heavily in new plant and machinery and also a complete new IT system and infrastructure.”

However, Dutton acknowledged: “The company has identified a risk brought on by the worldwide pandemic of coronavirus. It is envisaged this will slow our business activity for 6 months starting March 2020 through to August 2020. The company feels that although this is a significant risk, our activity will return to a normal trading level in the following months.”

He further forecast: “The directors are committed to the development of new products and the use of new technologies. The company will also look to enhance its existing product range through aesthetic design and engineering.”

Tags : businesscounterlinecountersdisplaysfinancial resultsfinancials
Clare Nicholls

The author Clare Nicholls

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