The managing director of Washington's Encore Group says the firm made a strong recovery following Covid, but has warned of inflationary pressures and materials shortages.
In its latest set of accounts, the envelope and packaging producer saw turnover rise by £4m to £38.9m and operating profits rise from £2.24m to £2.69m. MD David Cooper said he was cautiously optimistic about the firm's performance, but that cost increases, raw material shortages throughout the supply chain and very competitive industry conditions were weighing on the group.
He said: “It goes without saying that we’re delighted to release a positive set of figures. We are immensely proud of the way that our workforce has responded to all the challenges thrown at them over the past couple of years and they have played a vital role in this company’s success.”
