Nevilles smashes through the £20m barrier in record year

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New product development boosted Nevilles’ turnover increase.

Tableware and smallwares specialist Neville UK has reported another record revenue for the 12 months to 31 December 2018, according to its latest publicly available accounts on Companies House.

Posting a turnover of £21.1m, this represented a 7% increase on 2017’s £19.6m.

Operating profit rose by an even higher percentage, a massive 141%, as the total bounced back to £1.1m from £0.4m after being impacted by exchange rate fluctuations in 2017.

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Nevilles owner John Pompei stated in the report: “Nevilles has had a busy year, with sales growth across our key customer sectors.

“Nevilles had previously invested heavily in this sales growth, providing pricing continuity to its customers, and has realised the benefit this year, seeing a much improved turnover level, providing a significantly higher profit figure.”

He continued: “New product development continued during 2018, with several new launches throughout the year, increasing the ranges offered to our customers, contributing to the 7% increase in turnover.

“We foresee continued growth for the next 12 months, again focusing on sales growth, product development, infrastructure development and improving the customer experience, to help us achieve our ambitious growth plans over the next 5 years.”

While MD Andrew Neville told Catering Insight: “2018 was an excellent year, where we saw sales growth and significant profit growth, across all of our customer categories.

“Investments in our new Customer Fulfilment Centre has doubled our distribution capacity to over 100,000ft2, ensuring we have capabilities for our desired growth over the next 5 years. Our Investment in infrastructure and people will help to continue to innovate and grow our product ranges, and secure the service proposition that our customers rely on.

“We continue to focus on customer listening, to understand what our customers need to help them grow, and we are confident that this approach will see Nevilles continue to improve and develop.”

Tags : businessfinancesfinancial resultsfinancialsnevillessmallwarestableware
Clare Nicholls

The author Clare Nicholls

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