Revenues in 2010 showed a distinct improvement on like-for-like sales with a significant increase of +38 to £2.7m.
All quarters showed improvement with a particularly impressive performance in Qtr3 & 4, +50, suggesting that growth will be sustained going into 2011.
PE was the star performer at +63.5, Paper +34 but FIBC’s had a difficult time showing a small decline of -17. Increased efforts will be made in 2011 with that sector being targeted aggressively.
With overheads under control and a large jump in revenue, EBIT was up to 6.59. This will allow us to reinvest in 2011 to increase sales personnel and administration to continue the growth cycle.
Stock turns increased slightly to 6.85, 53 days. Current Ratio of 1.17 and a Debt to Equity Ratio of 5.77 are acceptable.
A healthy order book should allow us to maintain good sales in Qtr1 and, we hope, continued growth and satisfied customers during 2011.
Full Company results will be available from Companies House in Qtr2/3.