28 November, 2017
Revenue and profits jump for workwear giant
The largest workwear company in the UK, whose customers include Spar, Sainsbury’s, Pets at Home, Virgin Trains and Greggs, has reported a surge in revenue and profits for its latest financial year.
MWUK, which is headquartered in Castle Donnington, Derbyshire, operates the Dimensions, Alexandra, Boyd Cooper and Yaffy brands.
The company also manages the sourcing and product development of corporate apparel garments sold in the US by its sister company, Twin Hill Acquisition Company.
Newly filed accounts for the year to 28 January 2017 have shown that the company’s revenue increased to £144.2m from £132.5m while pre-tax profits rose from £6.3m to £10.5m.
The company sells through managed corporate accounts, catalogues and the internet and its customers are based in the retail, banking, airline, distribution, public sector, healthcare, hospitality, facilities management, laundries, leisure and beauty sectors.
The boost in revenue has been put down to large growth in Twin Hill commission receipts after a significant US uniform roll out as well as strong Dimensions activity and continued Alexandra market share growth.
A statement signed off by the board said: “The directors expect sales in FY2017 to be in line with FY2016 with continued growth in both Alexandra and Dimensions sales, offset by lower Twin Hill Commissions.
“Gross margin and operating profit are expected to decrease due to weaker Sterling following the Brexit referendum.
“Continued investment in our IT infrastructure and warehouse facilities are planned for the year ahead; we expect this will improve both operating efficiencies and enhance customer experience.
“The business is focused on maintaining and increasing market share throughout the UK and developing our growing international pipeline.
“In addition, further US growth is anticipated through our close relationship with Twin Hill.”
In February 2017 the company acquired Works Uniform Direct in Northern Ireland.
MWUK said that almost 18 million garments were supplied during the 2016 financial year and almost five million people wear its products every day.
The company has operations in Castle Donnington, Eastle Eden, Glasgow and Bristol.