Nisbets grows turnover to £180m

The Bristol-based equipment and supplies giant posted sales of £178.5m for the year to 31 December 2012, according to financial accounts filed with Companies House last week.

The figure is 11% more than the £161m it made in the previous 12 months, with the company citing the expansion of its product range as one of the factors in its growth.

At the end of the year, the value of stock held by the company totalled £33m. The company holds more than 20,000 items of equipment, utensils and chefs’ wear.

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Gross profit rose 6% to almost £71m, while pre-tax profit held steady at £26m for the year. Operating costs increased from £40.5m to £44.8m, which the company said was due to the growth of the business.

In their report, the directors said they were pleased with the performance during the year and believe that Nisbets is in a “strong position” to sustain growth and expand market share.

They wrote: “The strategy adopted during the year has been to continually build on the market leading position established by the group. The strategy is based largely on already well-established products and the development of a larger product range.

“To achieve future market growth, the directors are committed to developing the product range, maintaining a competitive pricing structure and expanding the customer base in the UK and abroad.”

As well as the UK and Ireland, Nisbets has subsidiaries in France, Spain, Australia, China and the USA. Its financial report reveals that at the end of last year it paid £3.6m for the remaining 50% share capital in its Dutch organisation KCC Nisbets BV.

Nisbets is owned by founder and current chairman Andrew Nisbet.

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