Swallowfield plc has announced a 44% increase in revenue to £39.7m from £27.5m for the first half of their financial year. Following a number of successful product launches for global brands and strong owned brand sales, including a successful Christmas period, the half year adjusted operating profits were also up for the company by 297% year on year to £2.54m from £0.64m.
The manufacturing side of the business, which remains focused on the development, formulation and production of quality products for many of the world’s leading brands is performing robustly, underpinned by successful new product launches. In the period, Swallowfield developed 92 new products which will be found in major retailers worldwide.
Brand Architekts Ltd, a company that develop and supply innovative and exciting brands to the nation’s top retailers, has now been successfully integrated within the Swallowfield Group.
Chris How, Chief Executive, commented:
“It has been a very successful first half. We are delighted with the way that the Swallowfield and Brand Architekts teams have worked together to further accelerate growth. The exciting potential of combining our resources identified at the time of acquisition is now being realised. We are also very pleased that our capability within the manufacturing business to satisfy the innovation, service and quality requirements of our customer base is being rewarded with good growth and a steady stream of new business wins and contract renewals.”
Read Swallowfield’s 2017 interim report here.