Creightons, a leading producer of personal care and beauty products, defied the odds and had a successful fiscal year that ended on March 31, despite the challenges brought on by the Covid-19 pandemic. The company experienced a remarkable surge in revenue due to the high demand for its hygiene products during these unprecedented times. Overall, Creightons’ revenue increased by an impressive 28.9%, reaching a total of £61.6 million. This extraordinary growth can be attributed to factors such as the successful transition of brands, the introduction of higher price point products, and an expanded retail distribution.

When we examine the breakdown of the revenue figures, it becomes evident that Creightons excelled in its own-brand sales, excluding hygiene products, which witnessed a significant increase of 16%. In addition to this, there was a notable rise in the sales of hygiene-related products, generating an additional £14.6 million in revenue. These positive results played a crucial role in the company’s overall success.

However, there were certain challenges that impacted Creightons’ sales. The closure of stores and salons during the pandemic resulted in a 6% decrease in retailer own-label product sales. This decline had a knock-on effect, leading to a 7.6% dip in related sales. Furthermore, the company’s total overseas sales experienced a slight decline of 3.9%, amounting to £6.9 million.

Despite these setbacks, Creightons managed to improve its earnings and profit margins. The company reported a remarkable 43.7% increase in operating profit, reaching £5.4 million. Notably, the operating profit margin expanded to 8.8%, compared to 7.9% in the previous year. Post-tax profit also demonstrated growth, rising from £3.2 million to £4.3 million.

William McIlroy, Chairman of Creightons, expressed his satisfaction with the company’s performance, highlighting their consistent year-on-year organic sales growth, along with the boost from hygiene product sales. He emphasized that the cash generated by this growth has positioned Creightons to seize any new opportunities that may arise. Echoing this sentiment, Managing Director Bernard Johnson mentioned that Creightons is open to acquiring new brands with a strong digital presence to further capitalize on potential opportunities.

In conclusion, Creightons showcased resilience and adaptability in the face of the pandemic, using the increased demand for hygiene products to drive revenue growth. Despite the challenges posed by store closures and declining overseas sales, the company achieved significant improvements in earnings and profit margins. With a solid foundation of organic growth and a willingness to explore new opportunities, Creightons is well-positioned for continued success in the personal care and beauty products industry.

Useful links:
Creightons Official Website
Independent – Creightons article