Envelope specialist Clarison Group has reported a £6.9m pre-tax loss despite growing turnover 45 per cent to £84.9m.
The London-headquartered firm’s latest plunge into the red, for the 12 months to 31 December 2022, follows a £4.7m pre-tax loss in the prior year.
Directors of the firm said a “substantial” amount of the loss made in the most recent year was attributable to the impact of the Covid pandemic.
The firm said in its latest results that it has “recently focused on recruiting key management roles as well as making improvements to processes and procedures” and as a result is “confident” in delivering “profitable growth” in the year ahead.
In December 2022 Clarison promoted Aidan Williamson (pictured) from financial officer to chief executive.
The latest report shows that, as of the end of 2022, the firm had £31m falling due to creditors in 2023 and a further £26.6m at the start of 2024. This left it with a net liability, after consideration of assets, of £2.5m.
However, the directors said there was “no reasonable fall in forecast sales which would compromise the ability of the group to meet its obligations as they fall due”.
Although overall headcount at the company fell slightly in 2022, this was due to a reduction in administration roles, with production numbers rising. Overall staff costs increased by a fifth to £19.8m.
Clarison has worked on the National Children’s Hospital in Dublin, the BBC TV Centre in London and the Everton Stadium on Merseyside.