9 February, 2018
Textiles supplier nears £50m milestone
A combination of new business wins and the development of existing contracts has helped drive revenues up to almost £50m at a Blackburn-based textiles supplier.
The latest set of accounts for Vision Support Services Group show a turnover of approximately £47.2m for the year ending 31 March 2017, which represents a 41 per cent year-on-year rise. Of this, £35m was generated in the UK, up from £24.7m a year earlier.
Pre-tax profits soared to £1.9m from £163,454 over the same period, while operating profits jumped to £1.8m from £263,821.
The results also indicate that Vision Support Services Group had 140 employees on average during the year compared to 126 in the prior year.
In their report accompanying the accounts, the directors said: “We are pleased to report results for the year with turnover of £47.2m (2016: £33.4m) and operating profit of £1.8m (2016: £0.3m).
“The company attributes the increase in revenues during the year to further development of existing contracts whilst also winning new business across the marketplace. Profitability has also increased as a result of the aforementioned improvement in revenue.”
Vision Support Services is now forecasting a £55m turnover for its current financial year ending 31 March 2018.
Laurie Thomas, managing director of Vision Support Services, said: “Our business model is unique; bringing together heritage-rich brands, to hit multiple market sectors with specialist products.
“The figures reflect an extremely good year of continued growth, reaching around £55m on the back of our continued success, particularly across the hospitality and retail sectors, in both the UK and overseas. These figures show, above all, the quality of the people we have within Vision and is testament to all of their hard work and dedication.
“It’s the people who excel in delivering our vision; we’re much more than a ‘box of sheets’ and we’re proud to have such a diverse, exceptional set of individuals who each have helped to make Vision what it is today.”
Vision Support Services Group, which is based at Walker Park in Blackburn, supplies textile and textile-related products and services to the hospitality, laundry, healthcare, retail and public sectors.
Source: Insider Media