Warewashing and icemaking appliance supplier, DC Products, has published its latest financial report, which shows the company was expanding, up to the year ending 31 October 2019.
The firm was bought out by the JLA Group in December 2017, and the results show that this has generated continuous financial growth since then.
In the latest financial year, DC Products generated £4.3m in revenue, a 4% increase on the 2017-18 financial year’s £4.1m.
Likewise, operating profit rose by nearly 7%, from £717k to £765k.
Company secretary Ben Gujral stated in the report: “The board has developed a very clear strategic vision, which is being successfully deployed within the business.
“The strategy will look to continue to grow market share within existing core business segments, along with identifying opportunities for growth in adjacent markets through both organic product and service development and strategic acquisitions.”
He continued: “The group will continue to provide a complete product supply and service solution to support its customer base, both existing and new, through the whole lifecycle of their various critical assets that are operated within their business. Through the group’s unique sales infrastructure and national service support capability, it will bring new product offerings to the existing customer base and gain market share within adjacent targeted markets.
“The group’s ambitious growth plans are underpinned by a robust deployment plan, which has allowed the business to cascade the strategy down through the organisation. A number of key strategic work-streams related to revenue growth efficiency and operational excellence will deliver the strategic vision and are supported by both the significant cash generation from the business and an appropriate level of external funding.”
However, Gujral acknowledged that the coronavirus pandemic and Brexit were among potential disruptions and uncertainties could have an adverse effect on the JLA Group’s business, financial results and day to day operations. He added: “As further changes to the market conditions and legal obligations arising from Covid are confirmed, the board will continue to assess the potential risks and impacts on the company’s stakeholders.”