Counterline’s steady management strategy has helped to maintain the servery manufacturing specialist throughout the pandemic period.
The Merseyside-based company has now released its financial results, publicly available from Companies House, for the 12 months to 29 June 2020.
This shows that while turnover slightly reduced by 24% from £13.2m in 2018-19 to £10.1m, sales were comparable to 2017-18 levels.
Senior MD Tim Flood analysed: “2020 was certainly a challenging year for us and our performance was impacted by the pandemic. We closed the factory in late March 2020 primarily to protect our employees but also due to the breakdown in some areas of our supply chain. By the end of May we had begun to make a slow but steady return to work as safely as possible and as government restrictions allowed.
“As a result the last quarter of that financial year was difficult. Our operating profit dropped from £450k in 2019 to a break-even in 2020. 2019 had however been an exceptionally high sales year for us and so in the end our turnover for 2020 was not significantly down on a typical year.”
He further detailed Counterline’s latest progress, saying: “In the 15 month period since these results we have made some tremendous strides back to doing what we do best and the team here can be very proud of themselves for that. We have refocused our energy and are delighted to see the sector returning to some normality. We continue to invest in new plant with two new production machines on order now to be delivered in January 2022.
“Our export division continues to grow strongly and we are making steady progress opening new markets in Asia and Africa.”