Waltham Cross-based independent retailer Fishpools has posted an increase in turnover for a third consecutive year, as ‘refinements’ to ranges and marketing boosted sales.
According to its latest filed accounts for the year ended 31 January 2016, total sales grew by 11.6% to £29.8m from £26.6m in 2015. Gross profit also experienced a growth of 11.2% to £13.8m from £12.4m, whilst operating profit remained static at £1.6m.
The company, which has been established since 1899, generated an overall profit of £2.3m, up by 64.2% on its recorded profit of £1.4m last year. This included profits on the disposal of investment properties of £710,801.
Stated within its strategic report, Fishpools said that its gross margins were ‘in line’ with last year at 46.7% and it had continued to invest in the business in order to ‘improve’ its offer, whilst ‘maintaining a tight control over our overheads and cashflow’.
Fishpools also expanded its workforce to 193 during the year, creating 21 jobs to compliment the continued growth.
Looking ahead, although delivering another set of strong results, Fishpools continue to monitor the impact of the EU Brexit vote on the UK economy.