Workplace supplies specialist, Caswells Group, has reported positive financial performance despite the impact of the first coronavirus lockdown in the UK.
The Middlesborough-based company, which provides tableware and catering utensils amongst its product portfolio, grew its turnover by 2.5% in the 12 months to August 2020, from £14.2m to £14.6m.
The firm’s operating profit increased at an even faster rate of 26%, from £701k to £882k.
In the latest annual report, publicly available from Companies House, director Peter Caswell stated: “The company’s trading performance in terms of sales growth continues to rise with year on year growth. The company continues to grow, due mainly to the quality of service it provides, but also due to the diversity of product lines and services it offers.
“The company continues to monitor and implement cost saving practices as considered necessary in order to maintain and improve its profitability.
“In common with other businesses in the sector, the company is dependent on both the local and national economic climate. However, the directors believe that the core activities and customer base are well enough established within the local marketplace to ensure that the company can continue to be profitable even when the market is depressed.”