£7m increase in sales at Darwen firm Crown Paints

3:40pm Tuesday 9th October 2012 in News

CROWN Paints has announced almost £7million increases in sales despite ‘unprecedented rises’ in costs.

The Hollins Road firm saw its revenues soar from £170.5million in 2010 to £177.4million last year.

A rise in cost of raw materials saw a £6million increase in the cost of sales, rising to £94million.

The firm, which employs about 1,200 staff in Darwen and at sites in Hull, Warrington, Belfast and Dublin, posted overall profits of £15.1million, up from £13.8million the previous year.

A directors’ report accompanying newly filed accounts said: “The company has continued to make good progress and exceeded expectations despite the difficult economic climate, which included unprecedented rises in raw material prices and the loss of a significant retail customer which went into administration early in the year.

“Despite all of this, turnover returned a modest growth.

“The main risks and uncertainties facing the company are principally related to the slowdown and further reductions in consumer spending on home improvements and further reductions in the construction related industry as the Government policies impact.”

Comments (3)

5:22pm Tue 9 Oct 12

CapitaBackHander says...

Sales are sort of irrelevant unless you want to make a pathetic headline. Profit increase of just over one million is the fact.
Sales are sort of irrelevant unless you want to make a pathetic headline. Profit increase of just over one million is the fact. CapitaBackHander

11:27am Wed 10 Oct 12

louderfasterlonger says...

CapitaBackHander wrote:
Sales are sort of irrelevant unless you want to make a pathetic headline. Profit increase of just over one million is the fact.
Sales up by 4% with profits up by 10% seems like good business to me.
[quote][p][bold]CapitaBackHander[/bold] wrote: Sales are sort of irrelevant unless you want to make a pathetic headline. Profit increase of just over one million is the fact.[/p][/quote]Sales up by 4% with profits up by 10% seems like good business to me. louderfasterlonger

9:40pm Mon 15 Oct 12

Tom the Cat says...

But what is the point of reporting on the growth 2011 against 2010, last years new surely!
But what is the point of reporting on the growth 2011 against 2010, last years new surely! Tom the Cat

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