Ballymena-based distributor, Stephens Catering Equipment, has posted another set of positive financial results, according to firm’s latest annual report on Company’s House.
In the 12 months to 30 April 2018, the Northern Irish dealer generated £17.9m turnover, up 12% on the previous year’s £16.0m, which in itself was a 22% uptick from 2016.
MD Paul Caves said of the reasons for the good performance: “All the credit goes to the hard working and dedicated staff that we have.”
However, gross profit margin slipped slightly from 29 to 27%, of which the report detailed: “Gross profit margin has reduced from that achieved in the previous year, with that year’s margin having been enhanced due to favourable currency fluctuations.”
This is also likely to have been a factor in the 37% reduction in operating profit, from £0.6m to £0.4m.
Looking forward, the directors stated: “The directors anticipate that the company will continue to trade profitably in the incoming year.
“The key risks to the business in the future relate to competition from other suppliers and the demand from the catering industry, including government departments. The directors are confident that their customer service record is such that the company can compete successfully in the current economic climate.”