Revenue surged nearly 20% and pre-tax profits rose by more than a third at Greater Manchester-headquartered consumer goods giant Ultimate Products during its latest financial year, the listed group has revealed.
The business has said its group revenue jumped by 17.9% in the 12 months to July 31, 2021, from £115.7m to £136.4m.
In a statement to the London Stock Exchange, the firm said it experienced growth across its four main categories: international, supermarkets, online and discount retailers.
It added that it has achieved the growth "despite a challenging commercial environment with significant operational and shipping disruption as a result of Covid-19".
Ultimate Products also confirmed its underlying EBITDA for the 12 months increased by 28.3% from £10.4m to £13.3m and its underlying pre-tax profits surged by 36.6% from £8.2m to £11.2m.
The update comes after the Oldham-based company completed the £34m acquisition of the UK's oldest houseware brand in July.
The business also confirmed its FY22 order book for the core business, excluding the effect of the recent Salter acquisition, is ahead of this time last year.
Chief executive Simon Showman said: "Against the challenging backdrop that Covid-19 continues to present, we are very pleased to have delivered a performance in FY21 that is ahead of the market's expectations.
"As ever, I am hugely proud of the hard work, dedication and professionalism of the Ultimate Products team.
"As a result of their efforts, our business is emerging from the pandemic with closer customer relationships, a stronger portfolio of products, and in excellent financial and operational shape.
Have you followed our BusinessLive North West LinkedIn page yet? Click here for the latest updates, stories and analysis from across the region.
"In addition, the acquisition of Salter, the UK's oldest housewares brand, has delivered a step change in the depth and quality of the group's brand portfolio, providing further opportunities for future growth both domestically and internationally.
"As a result, the board remains confident in the long-term prospects for the group."
