Audio and video equipment maker Canford Audio has reported a return to pre-pandemic trading levels as the live music industry recovers.
The Washington-based firm - which has sites in Dorset, France and Dubai - has filed accounts for the year ending October 2022 in which turnover increased more than 30% to £18.9m and operating profit jumped from £960,965 to £1.9m. Most of the firm's turnover comes from the UK, where it supplies specialist equipment to broadcast companies, theatres and venue operators.
Canford said turnover began to pick up particularly after March last year, following a turbulent time for many of its customers in the events market. The return meant trading for the employee trust-owned business was closer to 2019 levels when turnover was £17.5m.
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In a review of the period, director John Francis said Canford was expanding and developing its manufacturing sites, which include the Washington base and its Isle of Portland facility in the UK.
He wrote: "The demand for custom metal connection panels continues to increase, with Canford recognised as market leader in this sector, Canford continues to be architect-specified for audio and video connectivity solutions in many of the highest profile sports stadiums in both Europe and the Middle East, as well as theatres, live events and conference facilities. This sustained growth supports further investment in our manufacturing site on the Isle of Portland, UK."
Canford said it had seen some early success with its new SMPTE cabling product, with major customers placing orders. And sales of its EMO product range - targeted at studios and audio visual technicians - were said to be picking up.
This spring, the firm said it was due to finish a £450,000 project to replace part of the roof and install solar panels at its North East base. The move is designed to reduce Canford's carbon footprint and reduce energy costs.
Looking ahead, Mr Francis said: "Canford's own brands are an important source of sales growth, with continuing high demand for both standard products and custom variations. New products continue to be developed in all areas of production, which have been shown to be very strong performers with great customer trust in reliability and quality. We also continually look to expand our entire portfolio to keep up with latest trends and technologies.
"Further development of Canford's unique technology for level-limiting professional use headphones continues, with developments of noise-cancelling types for the security services markets We see further growth in fibre and will be looking to add other 'jackets' to the Canford SMPTE offering.
"Our iconic illuminated sign has undergone a redesign, including an LED bulb, and version three will be launched in early 2023. We are committed to sustainable business practices and are set to invest significant amounts of money over the next few years in eco-friendly initiatives as we strive to have as little impact on the environment as possible."
The accounts pay tribute to Canford founder and former chief executive Iain Elliott, who died at the end of 2021.
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