Sales growth cushions Caldeira from global woes
0 Comments | Daily Post; Liverpool (UK), Jul 26, 2010 | by Neil Hodgson
KNOWSLEY cushion company Caldeira achieved good sales progress and is considering further growth through acquisition – but warned the collapse of neighbouring discount chain Ethel Austin in February could impact this year’s performance.
The company reported a 28% jump in group sales during 2009 to pounds 20.1m.
Pre-tax profits slipped from pounds 430,000 to pounds 340,000 due to currency fluctuations and the global business downtur n.
But pre-tax profits are expected to more than double this year to pounds 700,000 through investment in product development and the completion of the retail division which was formed by the acquisition of 14 home furnishing stores from administrators in 2008, based mainly in Southern England.
Caldeira, which managing director Tony Caldeira began as a Great Homer Street market stall, now employs more than 400 staff at the retail arm, factories in Knowsley and China and a US sales office which recently added retail giants Target Corp and JC Penney to its client base
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