Dewsbury-based manufacturer Shackletons Limited has revealed that its investment in the acquisition of Manor Art Limited is ‘starting to contribute’ as turnover continues to rise, while pre-tax profit more than doubles.
According to the latest filed accounts, total sales rose by 7.6% to £11.3m from £10.5m in 2014, with gross profit also experiencing an uptick of 17.5% to £4.7m from £4m.
Shackletons completed the acquisition of Manor Art Limited back in November 2013, which consequently affected the performance for its period of trading to December 2014, resulting in a ‘disappointing’ period as the integration of the new business was ‘more costly and time consuming’ than first expected.
With the integration fully complete, Shackletons benefited with ‘significant improvement’ in its gross margins, with a pre-tax profit of £711,771 for the year, 133.8% up from £304,110 recorded in 2014.
Commenting within the strategic report, the company said: “The groups investment is Manor Art has in this last year started to contribute. Both businesses continue to perform well in the current period.”