Swindon-headquartered supply business Neptune has reported another year of significant growth, with turnover rising by 168% as continued investment pays dividends.
According to its latest annual accounts ended 30 September 2015, total sales increased to £33.7m from £26.4m in 2014. During the year under review, Neptune said it had made ‘significant investment’ in expanding its staff and building infrastructure, with plans afoot to grow further.
Revenues across the board showed solid growth, with UK sales continuing to drive performance, increasing from £21.9m to £28.3m – a rise of 29.2%. Overseas sales also experienced a 20% uptick to £5.4m from £4.5m last year.
Neptune (Europe) Limited posted a gross profit rise of 25.6% to £13.7m from £10.9m, although pre-tax profit was down 33.3% to £1.2m from £1.8m.
Commenting within the report, Neptune said: “Looking forward, the directors plan to expand the business further. There remains significant potential to develop the Neptune brand and increase market share in what continues to be a growing market.”
Neptune, which was established in 1996 by owners John Sims-Hilditch and Giles Redman, has recently confirmed that Farnham, Chester and Wimbledon locations have been chosen for its next showroom rollout, adding to its existing portfolio of 17 stores and over 100 UK stockists nationwide.