Swallowfield sees exports soar
Sales increase 7.4% to £31.3m
Full service provider to brands and retailers in the cosmetics, toiletries and household goods sector Swallowfield plc has reported a 7.4% increase in sales for the first half of the financial year to £31.3m. This growth has been underpinned by a strong performance from the export side of its business, which has seen direct international revenue grow by 23.4%.
“As expected, the UK market has been particularly challenging during the last six months. In addition to a relatively weak consumer picture, we have, in line with others in the industry, been affected by significant increases in the costs of raw materials and components,” says chief executive Ian Mackinnon. “We have worked determinedly to reduce the impact on our profitability by passing on those increases wherever possible and by winning new business.”
According to Swallowfield, the outlook for coming months looks positive with future revenue growth underpinned by a strong order book, new product launches and the development of new client relationships.
