Permobil sees pre-tax profits leap by 111% in 2019 as company predicts strong 2021 sales
Permobil’s recent annual report for the year ended 31 December 2019 revealed a profit, after taxation, of £155,441 – a significant increase from £61,925 in the previous year.
In its latest annual report, the mobility manufacturer reported a turnover of £3.9 million, a 14 per cent (£483,161) increase on the previous year. The gross profit for the latest report was £1.5 million, a figure which approximately matched the previous year.
Despite gross profit remaining largely the same as the previous year at £1.5 million, 2019 saw the powerchair supplier’s operating profit increase substantially. The year saw the firm’s operating profit increase to £191,764, a 104 per cent surge against 2018’s £93,994.
Considering the outbreak of Covid-19 on its 2020 trading, Permobil’s report revealed that the pandemic has impacted its revenues, resulting in a “significant shortfall in Europe” that will mean the year will end slightly below 2019.
The report does, however, forecast a “full revenue recovery” in 2021, compared to both 2020 and 2019, even if the first half of the year has been impacted by the pandemic.
It qualified this by stating: “Our business in UK and Ireland seems to suffer relatively less than other countries.”
The firm has adjusted its cost base and organisation, it says, which will ensure good profitability and readiness, even with lower revenues than forecast.
The report states: “We have taken measures to make sure we can still operate in this new, restricted environment with limited access to end-users and locations of rehabilitation.”
In relation to the UK leaving the EU on 31 January 2020, the directors stated that they do not foresee any material impact on the business, although they are continuing to consider and assess the impact of this on the company.
Check out Permobil’s THIIS Connect listing to discover more about the powerchair specialist.https://thiis.co.uk/permobil-sees-pre-tax-profits-leap-by-111-in-2019-as-company-predicts-strong-2021-sales/https://i0.wp.com/thiis.co.uk/wp-content/uploads/2019/11/PushTracker-SwitchDrive-SmartDrive-Permobil.jpg?fit=900%2C599&ssl=1https://i0.wp.com/thiis.co.uk/wp-content/uploads/2019/11/PushTracker-SwitchDrive-SmartDrive-Permobil.jpg?resize=150%2C150&ssl=1NewsroomSupplier NewsTrade Newsannual report,COVID-19,Permobil,powerchair,profit,profitability,revenuePermobil’s recent annual report for the year ended 31 December 2019 revealed a profit, after taxation, of £155,441 – a significant increase from £61,925 in the previous year. In its latest annual report, the mobility manufacturer reported a turnover of £3.9 million, a 14 per cent (£483,161) increase on the...Liane McIvorLiane McIvorliane@thiis.co.ukAdministratorTHIIS Magazine