Pre-tax profits surged by almost two thirds at a Manchester-headquartered family business which manufactures and supplies spare parts for the likes of Dyson, Samsung and Hoover during its latest financial year.
Qualtex Global in Denton has reported underlying pre-tax profits of £2.4m for 2020, a rise of 60%, on a revenue of £27m.
The company has been in the family since it was founded in 1961 and is currently run by husband-and-wife duo Philip and Caroline Hulme as chief executive and managing director respectively.
The group has operations in the US and Ireland as well as the UK and also works with Bosch, LG and Vax.
Finance director Chris Gibbons has hailed the group’s performance during the Covid-19 pandemic and said its showing has been boosted by a 'sharp rise in ecommerce sales and a tendency for householders to repair rather than replace appliances'.
Ecommerce sales now account for 50% of the group's revenues.
Qualtex has also appointed accountancy firm Hurst to provide financial and strategic advice as it plots its next phase of growth.
John Glover, a partner in the business services team at Hurst, said: "Over the past 18 months, Qualtex has invested heavily to improve its operations and efficiencies, which has allowed the business to respond effectively and decisively to the impact of and challenges presented by Covid-19.
"These programmes are bearing fruit with growing profits in what has been a difficult period for all.
"With a number of other developments in the pipeline, the company can look forward to the future with confidence and we are thrilled to be working with the management team to advise and guide them on their growth strategy while providing ongoing compliance support."
Mr Gibbons added: "We are very excited to be partnering with Hurst. We have all learned the importance of supporting local businesses during the pandemic, and we are looking forward to working alongside the team in the years to come.
"Last year was a great 12 months for Qualtex and we will use this platform to build upon and improve our operational efficiencies, through investment in our people and in new technologies."
