Basildon-headquartered distributor and fabricator Salix has much to celebrate with the publication of its financial results for the 12 months to 30 November 2018.
In the firm’s latest annual report, publicly available on Companies House, turnover is recorded as increasing by 14%, from £7.3 to £8.4m in 2018 – the business’ best performance since 2015.
Likewise, operating profit is also up by double digits (17%), from £107k to £125k. Plus over that period Salix added a staff member in the production department to raise headcount to 55.
MD Jayson Ball told Catering Insight: “During 2018 Salix has concentrated on growing its presence within the market and focusing on its core market.
“The company has invested in its fabrication and administrative team, bringing in new skills, efficiencies and processes, to facilitate the growth in customers in the year and into the future.
“Going into 2019, a full internal reorganisation is taking place which it is hoped will yield an increase in profits. Into 2019, Salix has seen sales growth in line with its customer growth targets and, with the staffing and customer investment, has generated additional profits.”
In the report itself he stated: “The directors are satisfied with the results for the year and are confident that, despite current economic conditions, the company will continue to be profitable for the foreseeable future.
“As with many companies the size of Salix the business environment remains challenging. There is continued pressure on margins as costs have increased more rapidly than revenues.
“The catering market in the UK is highly competitive and there continues to be downwards pressure on prices. These challenging conditions are expected to continue into 2019.”