Success for Joerns’ UK operations as turnover soars despite debt restructuring across the pond
Joerns Healthcare Ltd, a major player in the moving and handling market, has revealed that plans to introduce new products to its portfolio is bearing fruit, with the company increasing its turnover by over £1.2million in the year ended 31 December 2018.
Part of the Joerns Group, which boasts operations across North America and Europe, Joerns Healthcare Ltd is well-known in the market as a supplier of patient handling products, such as its Oxford hoists.
The company grew its turnover from £12.01million in 2017 to £13.26million in 2018, highlighting in its strategic report that adding new, quick turnaround products was a key factor, supporting its sales team with a greater portfolio.
Additionally, Managing Director John Regan confirmed in his report that improvements to Joerns Healthcare’s supply chain costs had increased margins, as well as enabling the company to become more competitive in the market by being able to offer lower prices.
The strategic changes resulted in a substantial increase in Joerns Healthcare’s operating profit for the year, jumping substantially from £138,000 in 2017 to £790,000 in 2018.
According to the strategic report, the increase in Profit on Ordinary activities before taxation was achieved by sourcing new suppliers and introducing dual sourcing to its buying process, combined with a reduction in warehouse and transportation costs.
Highlighting the competitive nature of the moving and handling market, both in the UK and globally, the company restated its continued commitment to product R&D, as well as acknowledging the importance in fast response times, both in terms of supplying products and responding to customer queries.
Outlining long term plans for Joerns Healthcare, the company says it will focus on growing its export operations and will also increase its sales of bed products, as well as introduce new ranges to the market.
The patient handling supplier’s promising UK performance follows Joerns Healthcare LLC, the Group’s American arm, announcement at the beginning of July that it had filed for bankruptcy protection in the United States.
At the end of July, the United States Bankruptcy Court for the District of Delaware confirmed the Chapter 11 plan for the company and its domestic subsidiaries, with Joerns expected to complete its restructuring and successfully emerge from bankruptcy over the coming weeks.https://thiis.co.uk/success-for-joerns-uk-operations-as-turnover-soars-despite-debt-restructuring-across-the-pond/https://i0.wp.com/thiis.co.uk/wp-content/uploads/2019/08/Joerns-Building.jpg?fit=1000%2C582&ssl=1https://i0.wp.com/thiis.co.uk/wp-content/uploads/2019/08/Joerns-Building.jpg?resize=150%2C150&ssl=1NewsroomSupplier Newsbankruptcy,Joerns Healthcare,Joerns Healthcare LLC,John Regan,moving and handling,Oxxford hoists,patient handling,strategic reportJoerns Healthcare Ltd, a major player in the moving and handling market, has revealed that plans to introduce new products to its portfolio is bearing fruit, with the company increasing its turnover by over £1.2million in the year ended 31 December 2018.Part of the Joerns Group, which boasts operations...Calvin BarnettCalvin Barnettcalvin@thiis.co.ukAdministratorTHIIS Magazine