This ad will be closed automatically in X seconds.

Smiffys reveals it is in a ‘good position’ in latest public accounts

Fancy dress and party company Smiffys has revealed that it remains in a ‘good position to overcome any difficulties that may arise’ from the Covid-19 pandemic in its latest accounts, which were made public last week.

The official accounts covered the 12 month period to 31 December 2018 and revealed that the Gainsborough-based company’s turnover increased from £55.1m to £59.9m while its pre-tax profits grew from £2.9m to £4m.

The accounts included a statement from chairman Ray Peckett, who stated that the team is ‘working tirelessly to keep updated with this fast moving situation’.

“We are very pleased and proud to yet again deliver a strong set of financials, despite some of the toughest trading conditions and economic uncertainty that we have ever seen,” added directors Elliott and Dominique Peckett.

“We have a great team, who have risen to the challenge and delivered many creative and innovative solutions for our customers,” they continued. “We have signed some extremely exciting new licences and introduced hundreds of industry-leading new designs to help drive revenues in an increasingly competitive market. We have continued to invest in our infrastructure which will continue to underpin future performance and have ambitious plans and are confident about future growth potential.”

“As with many industries, Covid-19 is restricting performance for the short term, but we will emerge stronger and more focused and are looking forward with excitement and renewed energy. This will test our resolve, but our values will help guide us forward in a driven, entrepreneurial, family, fun and resilient manner.”

Ray also spoke about Brexit, stating that it would continue to: “offer nothing but uncertainty and challenge from all fronts… We are constantly discussing and creating the best circumstances for the business for the period post 31 December 2020, with no real clarity of the trading arrangement we find ourselves in.”

MORE NEWS
Copy of Progressive Preschool featured image (7)
 
Spring Fair has launched a competition to win £1000 to spend at the February 2025 show....
Copy of Progressive Preschool featured image (5)
 
Rubies has launched a Skibidi Toilet range, inspired by the popular YouTube series created by Boom. ...
Copy of Progressive Preschool featured image (32)
 
Reports suggest that Party City is planning to file for bankruptcy within the next two weeks....
Copy of Progressive Preschool featured image (6)
 
2024 has been a challenging year for many in the party industry and will likely be looked back on as the new dawn of the industry after some major shifts. Partyworlwide.net looks back at some of the key moments. ...
Copy of Progressive Preschool featured image (32)
 
Bloomberg has reported that Party City is planning a second bankruptcy filing almost two years after it filed for one in the US....
Copy of Progressive Preschool featured image (77)
 
Anantara Palazzo Naiadi hotel has opted for sustainable Christmas decorations made by Gemar....
Get the latest news sent to your inbox
Subscribe to our daily newsletter