Arco investing in future as it enjoys record profits
ARCO is further investing in its business after outperforming the market and reporting rises in profits and sales last year.
The Hull-based, family-owned safety clothing and equipment supplier saw a 6% increase in sales to £243m in the to the end of June 2012 with record pre-tax profits, up 30% at £10.5m.
The group founded in 1884, which supplies provides safety equipment, personal protection equipment and workwear to major public and private organisations and was a supplier to the London Olympics, said that despite market uncertainty thanks to “innovative product development and an understanding of economic pressures”.
The group said that it had improved efficiencies throughout the business and “remains in a strong trading position with a strong balance sheet and positive cash position”.
Arco, which supports its staff to get involved in a variety of charitable and community projects, entered the ‘Sunday Times 100 Best Companies to Work For’ survey for the first time, receiving a ‘One-to-Watch’ award last year.
Joint managing directors Thomas Martin and Neil Jowsey said: “Against a background of continuing economic uncertainty and challenging trading conditions, we have delivered our best ever financial results.
“This is due to our sales strategy delivering some exciting new business wins and excellent growth with existing customers. We have also worked hard to support this through management of our costs, innovating new product ranges and the dedication and hard work of all our people.
“As the UK’s market leader in safety, we must constantly review our business to ensure that we remain competitive and deliver excellent service to our customers. We’ve spoken to our customers and they’ve told us what’s important to them – exceptional quality, competitive prices and great customer service; over the coming months we will deliver a multi-million pound investment programme to improve our performance in each of these key areas.
“We are confident that this strategy will enable us to remain dynamic and develop successful, long-term improvements that will deliver what our customers need and a continuing healthy future for the business.”