Fancy dress and party company Smiffys has revealed that it remains in a ‘good position to overcome any difficulties that may arise’ from the COVID-19 pandemic in its latest accounts, which were made public earlier in April.
The official accounts covered the 12-month period to 31 December 2018 and revealed that the Gainsborough-based company’s turnover increased from £55.1m to £59.9m, while its pre-tax profits grew from £2.9m to £4m.
The accounts included a statement from chairman Ray Peckett, who stated that the team is ‘working tirelessly to keep updated with this fast moving situation’.
“We are very pleased and proud to yet again deliver a strong set of financials, despite some of the toughest trading conditions and economic uncertainty that we have ever seen,” added directors Elliott and Dominique Peckett.
“We have a great team, who have risen to the challenge and delivered many creative and innovative solutions for our customers,” they continued. “We have signed some extremely exciting new licences and introduced hundreds of industry-leading new designs to help drive revenues in an increasingly competitive market. We have continued to invest in our infrastructure which will continue to underpin future performance and have ambitious plans and are confident about future growth potential.”
“As with many industries, COVID-19 is restricting performance for the short-term, but we will emerge stronger and more focused and are looking forward with excitement and renewed energy. This will test our resolve, but our values will help guide us forward in a driven, entrepreneurial, family, fun and resilient manner.”
Ray also spoke about Brexit, stating that it would continue to: “offer nothing but uncertainty and challenge from all fronts… we are constantly discussing and creating the best circumstances for the business for the period post 31 December 2020, with no real clarity of the trading arrangement we find ourselves in.”
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