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Kitchen cabinet maker Burbidge posted higher sales in 2016–17, citing an increase in demand for British-made goods linked to the EU referendum.

 

The privately-owned Coventry company recorded sales up 2.7 percent to £9.14 million in the year to September 30, 2017.


In accounts just filed at Companies House, though signed off last November, Burbidge said the impact of the UK's future position and relationship with the EU creates ongoing uncertainty within the marketplace.


However, it also said the decision to leave "has in fact had a beneficial impact on customer spending patterns for the group, with an increased desirability for British manufactured products."


Burbidge gross margin narrowed 150 basis points to 38.5 percent, with pretax profits falling 12 percent to £80,575.


A £999,000 actuarial gain on its pension scheme meant the company booked overall net income of £870,654 for the year. This compared with a net loss of £432,593 the previous year, a year also impacted by movement, that time next negatively, in the value of its pension scheme assets/liabilities.


Burbidge said it had invested significant time and resources into the ongoing development of the Burbidge bathroom furniture range during the latest period.


It held cash totalling £419,088 (2016: £800,010) at its balance sheet dateline, largely reflecting capex and dividends, with year-end net assets rising to £7.1m (£6.5m).


* all figures from consolidated accounts of Burbidge Holdings



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