Manufacturing company Niagara Healthcare reports a decline in sales
Manufacturing company Niagara Healthcare has reported a decline in sales as well as suffering a deficit with the overall trading environment remaining difficult.
According to NHC Holdings Limited’s latest filed accounts for the year ended 31 December 2015, total sales fell by 3.4% to £13m from £13.5m in 2014, whilst experiencing an operating loss of £376,291.
Turnover fell for a fourth consecutive year, with its last increase in revenue dating back to 2010 when the company saw sales rise to £20.1m.
The UK remained its core market but saw sales slip by 4.5% to £12.7m from £13.3m. However, its European, American, African and Australian markets all witnessed a growth in sales, up by a combined 35.6% to £274,204 from £202,589 – with the Rest of Europe representing over half of revenues.
The company, which includes the Adjustamatic Beds, Niagara Therapy and Equissage brands, posted an overall loss of £346,413 for the year, compared to its profit of £152,227 in 2014.
Furthermore, the business saw a reduction in its end of year cash balance, standing at £740,285, lower than £1.3m at the end of last year.
NHC, which has been established for over 50 years, has its manufacturing facility based in Denbigh, North Wales, as well as a head office situated in Crawley.