£7m increase in sales at Darwen firm Crown Paints
3:40pm Tuesday 9th October 2012 in News
CROWN Paints has announced almost £7million increases in sales despite ‘unprecedented rises’ in costs.
The Hollins Road firm saw its revenues soar from £170.5million in 2010 to £177.4million last year.
A rise in cost of raw materials saw a £6million increase in the cost of sales, rising to £94million.
The firm, which employs about 1,200 staff in Darwen and at sites in Hull, Warrington, Belfast and Dublin, posted overall profits of £15.1million, up from £13.8million the previous year.
A directors’ report accompanying newly filed accounts said: “The company has continued to make good progress and exceeded expectations despite the difficult economic climate, which included unprecedented rises in raw material prices and the loss of a significant retail customer which went into administration early in the year.
“Despite all of this, turnover returned a modest growth.
“The main risks and uncertainties facing the company are principally related to the slowdown and further reductions in consumer spending on home improvements and further reductions in the construction related industry as the Government policies impact.”