Welcome to JSA Consultancy Services

A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Senator turnover down 6.3%; profits fall by 72%

Wednesday 10 August 2011

SENATOR International, one of the UK’s largest office furniture manufacturers, has revealed a sharp fall in profits.
The Accrington-based company, which employs mote than 1,000 people, was hit by an exceptional item of £932,000 as a result of the relocation of Teal Furniture - a High Wycombe-based healthcare furniture firm it bought in 2008 - to the North West.
Even without this hit, Senator's 2010 profits were down in what director Robert Mustoe - son of founder and chairman Colin - described as "another difficult trading year."
Sales, impacted by the continuing weakness of the commercial property market fell 6.3% from £98.4m in 2009 to £92.2m.
Operating profits fell from £2.4m to £1.9m, while pre-tax profits, including the one-off item, fell from £2m to £552,000.
In his review of the year Robert Mustoe says the results were 'satisfactory' given the market conditions. While acknowledging the fall in sales he said a decline in the gross profit rate seen in 2009 had been reversed, and was 26.1% compared with 25.9%.
Also on a positive note, he pointed to a strong second-half performance US-based subsidiary Senator Inc, which in the year grew sales to £6.6m.
Mr Mustoe said the reorganisation within the healthcare division should lead to "significant" savings in the future.
He said the group's financial position remains "exceptionally good" and pledged further investment in new products.
"In the present economic climate the directors will continue to review the group's operations and cost base, whilst at the same time continuing to improve the product range, market share and profitability.
"In particular it (the board) will continue its policy of investing for the future in product research and development in order to maintain its position as an innovator and independent UK supplier of office furniture and explore options to reduce manufacturing costs in order to maintain competitive prices and margins."

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.

 

 

moreLatest News

Wednesday 10 January 2018 Announcing PANTONE 18-3838 Ultra Violet, PANTONE® Color of the Year 2018.

“A dramatically provocative and thoughtful purple shade, PANTONE 18-3838 Ultra Violet communicates

Tuesday 9 January 2018 Knoll Designs Armless MultiGeneration Light Task ChairKnoll Inc. alleges patented chair design was u

PHILADELPHIA – A furniture company with a place of business in Greenville alleges one of its paten

Sunday 7 January 2018 Herman Miller reports Second Quarter Fiscal 2018 Results – orders at all-time-high

Herman Miller, Inc. (NASDAQ: MLHR) today announced results for its second quarter ended December 2,

Wednesday 3 January 2018 Swindon Furniture Company Hit by Brexit Rescued

A furniture company whose sales went into decline after the vote on Brexit has been sold out of admi

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England


+44 (0) 20 7688 1928