Sales of hygiene products lifts Peterborough-based Creightons during pandemic
A beauty products maker in Peterborough has seen its sales and profits grow during the pandemic.
Creightons, based in Lincoln Road, where it has 340 staff, says sales of its own hygiene related products have been a key reason for its success during the year to the end of last March.
Figures released by the company show revenue increased by 28.9 per cent to £61.6 million compared to £47.8 million for the previous year. Its profit after tax rose by £1.1 million to £4.3 million.
Creightons says it maintained sales growth despite the pandemic.
Its hygiene related products achieved sales worth £14.6 million while its own branded sales (excluding hygiene products) grew by 16 per cent.
Chairman William McIlroy said: “Whilst the Group faced a number of challenges since the outbreak of Covid-19, it has also found opportunity to deliver hygiene product types sought by consumers and health care providers during the pandemic.”
The figures also show the company’s tax charge for the year was £837,000 - a rate of 16.2 per cent compared to the standard rate of 19 per cent.
A main reason for the reduction is its research and development relief claims for the year of £206,000.
Mr McIlroy said: “We invest significant resources in research and product development. As the Group has developed its business towards more leading-edge products, the nature of the research and development has become more sophisticated.”
The firm’s net cash on hand is £6,155,000. It is to pay a final dividend of 0.50p per share.