Sales have held up above a pre-Covid high for Hull safety giant Arco as demand for PPE post-pandemic slacked.
The company has recorded sales of £307 million in its latest financial year, down 21 per cent from an exceptional £390 million it reported at the height of the outbreak. Operating profit was also significantly lower, almost 70 per cent from £18.4 million to £5.8 million, as the economic situation and inflationary pressures combined with supply chain volatility.
Arco has described the year to June 30, 2022, as a “challenging period” but emerged with a “healthy cash position” with £11.9 million on the books, even after an additional £3.75 million additional pension contribution. A re-basing had been predicted in last year’s results.
