Major industry name, Unitech Industries, has posted a steady set of financial results in the face of the coronavirus impact.
The group owns distributors ScoMac Catering Equipment, Court Catering Equipment, Crosbys Catering Supplies and Francis Commercial Kitchen Services, as well as manufacturer Corsair Engineering, supplier Corsair Wholesale – trading as Valera, and fabricator Stellex Manufacturing.
In its latest accounts, for the year to 31 December 2020, the overall group’s turnover was dented by 27%, reducing from £54.1m to £39.6m, but its operating profit went in the opposite direction, defying the prevailing market conditions by growing a massive 512% from 2019’s £154k to last year’s £940k.
ScoMac Catering Equipment, which also publishes its results individually, did not fare so well as the overall group, with 40% sliced off its turnover, dropping from £13.6m to £8.2m. Its operating profit of £419k in 2019 turned into a loss of £35k last year, a reduction of 108%.
Unitech Industries’ group MD Nick Imlah analysed: “Obviously, the group has suffered tremendously from the downturn in hospitality and also the pandemic, however, as a group we have maintained a good position in moving forward, maintained good relationships with many of our non-hospitality customers and continued to trade profitably throughout this period.
“Our hospitality businesses have not fared as well as some of the companies that are not associated with the hospitality industry. Unitech Engineering, which primarily supplies into the food production factories, has fared reasonably well.”
Of the group’s distributors, he summed up: “Court Catering, Crosbys Supplies, and Francis Commercial Kitchen Services are heavily linked to the hospitality industry and have shown small losses but have still moved forward positively and are now seeing some good improvements in the hospitality sector, and in 2021 will show improved performances.
“Court Catering is now looking at expanding and picking up 4/5 middle management and senior management positions.
“ScoMac Catering, which primarily supplies the hospitality industry but is also involved in care homes, prisons and main contractor work, has broken even for the year and again ScoMac has seen some significant improvements over the last few months since lockdown has eased and construction sites have continued to operate on a social distancing basis.”
He concluded: “The group has increased its cash reserve and has now started investing again in our hospitality subsidiaries, which have suffered during the pandemic.”