Bulb importer sees light at the end of the tunnel

SUPREME Imports, the Trafford Park-based importer of batteries and lightbulbs, is continuing its steady growth following some canny trading and a couple of recent acquisitions.

Accounts for the year to March 31 show that the Trafford Park-based firm, run by managing director Sandy Chadha, managed to double profits to £1.4m after increasing sales by 12% to £23.4m. Chadha said that when sales from a directly-owned subsidiary in the Far East are added in, group sales for the year were closer to £28m.

“It’s going well,” said Mr Chadha, who has been rebuilding the business since a deal with a former private equity buyer turned sour three years ago and led to the business completing a pre-tack administration.

“We’ll have another good year this year. Our sales should be around 30% ahead of last year.”

He said that at current run rates the group should achieve a turnover of around £31m in its current financial year while net profits could hit £2.2m.

The firm, which benefited from the purchase of thousands of incandescent lightbulbs prior to an import ban by the EU last year, has also just managed to secure more of this stock after it bought around 1,000 pallets worth of bulbs from the administrators of Associated Lighting Group – the company created through the Merger of Salford-based Trident and Leeds-based Ring Lighting that was placed into administration last month.

“Hopefully, we’ll be able to make more than last year because they’re harder to get hold of now,” he said.

Mr Chadha added that an online retailer of batteries acquired last year – Tonbridge-based Battery Force – had reduced its operating burdens and was now operating at break even levels, while the Laseron distribution business bought two years ago continued to perform well.

Accounts show that by its year end, Supreme Import’s net assets grew to to £1.7m from £619,000 a year earlier. It also repaid around £1.9m of a £3m directors’ loan to the business.