The reported year has seen a fantastic result, in light of the pandemic, international lockdowns and decimation of the
international travel sector. The period to February 2020 saw the continuation of the good results from the prior year, up
to March 2020, when the impact if Covid-19 was felt. This had a negative effect on sales for the remainder of the
financial year and limited the overall profitability of the company. During this time the board has sought to reduce
variable costs where possible and diversify our range into both existing and new duty-free markets. We relocated in July
2020 to our newly renovated 60,000 sq.ft Fareham warehouse, resulting in the consolidation of the 4 prior sites, into one
HM Revenue & Customs approved warehouse: implementing both logistic efficiencies and expanding our capacity. This
has seen an inevitable increase in warehousing costs, making the result in this year even more spectacular. Over the next
few years, we will continue to extend our reach within both the international Aviation and Maritime sectors, opening up
new supply routes into domestic and international Military, NATO and Duty-Free Retail, while continuing to grow our
historic UK customer base.
|