close

Hallmark bounces back into the black

Hallmark van crop
Hallmark’s financial results improved in 2019.

Edenbridge-based distributor Hallmark Kitchens has reported more positive figures in its latest annual report, now publicly available on Companies House.

In the 12 months to 30 September 2019, the firm generated nearly £6.5m revenue, almost 1% up on 2018’s figure of £6.4m.

But it is operating profit which has really turned around for the Kent firm, with a loss of £56,000 in the previous year transformed into a £41,000 profit in 2019, a massive 173% increase.

Story continues below
Advertisement

Writing before the coronavirus crisis hit, Hallmark’s MD Kevin Jennings, contracts director Chris Douglas and finance director John Carlton stated in the report: “Without doubt, the ongoing Brexit uncertainty certainly made 2019 another challenging year for our market sector.

“That being said, through clearly defined senior management objectives along with a motivated and dedicated team, we are delighted to report a profit for this trading year following the disappointing performance of 2018.”

They analysed: “Our turnover for this year remained comparable to last year’s as unfortunately a number of confirmed ongoing projects were delayed, the timings of which we have no control over; however through concerted efforts, we were able to improve our GP margin.

“Whilst we remain focused on controlling overhead, we have invested in those areas within our business where we have identified that incremental growth can be developed and in this respect appointed a new sales manager to work alongside our sales director.”

At the time, they looked ahead to say: “The continuation of maintaining strong working relationships with our key clients such as D&D London, Corbin & King, Dishoom, Wright Brothers and Dogus means that we have a number of new projects in the pipeline for 2020; this together with our solid service division and the opportunities from our direct sales indicates a positive year ahead all round.”

Tags : dealerdistributorfinancial resultsfinancialshallmarkHallmark Kitchens
Clare Nicholls

The author Clare Nicholls

1 Comment

  1. Dedication and professionalism on display for all to see. Having worked with the team on a large project in London observing their attention to detail and their extremely high customer service, I can see how they have acheived this wonderful turnaround.
    Well done to everyone and good luck for the future.
    Gary Nunn

Leave a Response

Protected with IP Blacklist CloudIP Blacklist Cloud