Vision’s Jack Sharkey reflects on tumultuous year

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Vision MD Jack Sharkey says the story of the distributor’s year is about more than just its topline financial figures.

Heywood-based distributor Vision Commercial Kitchens has considered the impact of the coronavirus on its business, as it publishes its latest financial results on Companies House.

In the 12 months to 30 September 2020, the firm’s turnover was cut by 16% from £11.5m to £9.7m, while operating profit slid by 49%, from £543k to £278k.

MD Jack Sharkey analysed: “As we publish our annual financial results, it’s a time to reflect on a year like no other within the industry.

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“The true reflection on our year is much more than just a number in the accounts. We had started the year well; our half year results were ahead of forecast and we actually projected to have our best year ever until the pandemic struck during March 2020, resulting in delayed and postponed contracts, delays and postponements in some cases of 12 months.”

He emphasised: “At the start of the pandemic, as a board, our focus was ensuring that we came out the other end protecting all of our staff.

“We had foreseen what was coming and logistically arranged for various elements of the team to work remotely. At Vision we’ve always took the view that our staff are our greatest asset and we operate as the Vision Family. We ensured that despite having to utilise furlough during the first lockdown we continued to top up wages and look after all of our team.”

Sharkey revealed how the firm’s clients were prioritised too: “We worked closely with our customer base, to work through their individual needs and come up with the right solutions to ensure that they too were able to continue through these hard times.

“And we kept open lines of communication with our supply chain, passing down incoming receipts as soon as we received them in order to ensure that everybody’s cash flow kept moving.”

He concluded: “We traded throughout the pandemic operating under difficult conditions on a number of large projects, albeit with a skeleton team, who were simply quite amazing.

“So to end a financial year impacted by 6 months of Covid-19 and our turnover only 16% down year on year, is quite a result and something we are pleased with.

“We have emerged from the pandemic in a much stronger place both as a team and a business. As a board we are extremely proud to have come out of the pandemic retaining our entire team, a team who have all played their part and pulled together, just like any other family in hard times.

“Our customer base recognise the added value we bring and our relationship with our supply chain, which was always good, is even stronger.”

Looking forward, Sharkey added: “We have a strong order book both for the remaining part of this financial year and moving into our next financial year, whereby hopefully we can put the pandemic well and truly behind us. We are now looking forward to the reopening of hospitality.”

Tags : businessdealerdistributorfinancial resultsfinancialsVisionvision commercial kitchens
Clare Nicholls

The author Clare Nicholls

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