Sprint investments affect latest turnover

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Sprint Group recently designed and specified the kitchen for Happy Lamb’s first UK branch, in London.

Pershore-based Sprint Group has seen its financial position slip slightly in its latest annual report.

Publicly-available via Companies House, the report details that for the year ending 30 April 2019, the distributor accrued £13.4m turnover, down nearly 16% from the 2017-18 financial year’s total of £15.9m.

Operating profit also slid 39%, from just under £1m to just under £0.6m this year.

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MD Tom Bartley-Smith commented: “Last year was tough for the industry in general (and for the businesses we support).

“During the period we undertook a number of capital projects which represented a significant investment in our future.

“We are therefore pretty pleased with the results and are well placed to grow in the coming years.”

In the report, he also analysed: “Although this has been a disappointing year compared to the previous two, these are strong results for the industry in which the company operates, especially in light of the significant investment made in systems and infrastructure during the financial period.”

Bartley-Smith predicted: “To further improve profitability, the company will be seeking to forecast demand better and purchase accordingly, thereby reducing costs of sales in the forthcoming financial year.”

Tags : businessdealerdistributorfinancial resultsfinancialssprintsprint group
Clare Nicholls

The author Clare Nicholls

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