close

Gratte Brothers’ strong financials are helping it to weather pandemic storm

IMG-20200330-WA0007 crop
Gratte Brothers Catering Equipment finished refurbishing its Stevenage headquarters during its latest annual report’s financial year.

Gratte Brothers Catering Equipment’s directors consider the group well positioned to manage potential adverse impacts of the coronavirus pandemic, according to its latest annual report.

Recently published on Companies House, the document covers the financial year to 31 March 2020, during which the Stevenage-based distributor generated £11.6m, 12% up from 2019’s £10.3m.

Likewise, operating profit rose 22% from £69.4k in 2019 to £84.4k in the last financial year. Operating profit margin remained the same at 0.7%.

Story continues below
Advertisement

MD Colin Barden told Catering Insight: “We are pleased to see increased revenues for the period, but have not gone unaffected by the pandemic.

“Significant investment in our offices and warehouse last year ensures we have the facilities capable of meeting our future needs. We have continued investment in our service and maintenance team to ensure we deliver market leading customer service in the most cost effective manner, with over 50% of our engineers now multi skilled to cover gas, electric and CAT 1 refrigeration.”

Within the report, the directors underlined: “The company is maintaining strong relationships with key customer to ensure that it is well-placed when current restrictions in the hospitality sector ease.

“The company is also looking to broaden the sectors and customer base in which it operates to ensure a robust pipeline of potential and new work. The directors therefore view the future positively, despite the ongoing economic, political and financial uncertainties.”

While Barden forecast: “With the backing of one of the UK’s leading building services companies and longstanding blue chip clients we are going into 2021 with a strong order book, despite the challenges faced by our valued hospitality clients.

“Our staff, suppliers and clients have been truly amazing in their support for the business and we look forward to more prosperous times ahead for us all.”

Tags : dealerdistributorfinancial resultsfinancialsgratte brothers
Clare Nicholls

The author Clare Nicholls

Leave a Response

Protected with IP Blacklist CloudIP Blacklist Cloud