Swallowfield revenues increase 9.5%
Expectations for 2012 remain positive
C&T service provider Swallowfield plc has enjoyed an increase in sales of 9.5%, from £52.4m to £57.5m, for the year ended 30 June 2011. Profit before taxation increased 12.6% to £1.33m, while overseas revenue increased by 14.5%. A final dividend of 4.1p per share has been proposed making a total for the year of 6.3p, the same as the previous year.
“Revenue has increased despite the continued strong economic headwinds and is now 28% higher than in 2008, at the start of the financial crisis,” commented Ian Mackinnon. “We have driven this increase through product innovation, an attention to quality and customer service and by providing cost effective product solutions to our growing customer base.”
Swallowfield expects the overall UK market background to continue to be adverse for another couple of years, but it plans to continue to expand its business internationally, while capitalising on the more favourable climate for manufacturing in the UK. “Overall, our expectations for the 2012 financial year remain positive and unchanged,” noted Mackinnon.