Profits up at stairlift manufacturer following tough year
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Newly-published annual results for Steeton-based Acorn Stairlifts show the business remains in a strong position despite the impact of the pandemic.
The results for the year ended 30 September 2020, include the first eight months of the pandemic.
As part of the medical and social care supply chain, Acorn continued to operate throughout the COVID-19 outbreak to service and protect the ongoing needs of its customers.
The company says the crisis and resulting lockdowns initially had a negative impact on its turnover, but it has managed to achieve a level of recovery beyond what was predicted.
Highlights from the latest annual results are:
- Turnover was £230.6m, down from £241.1m the previous year
- Profit after tax was £34.7m, up from £23.1m the previous year
- The proportion of non-UK turnover, showing how much of Acorn’s income is from overseas markets, remained virtually unchanged at 71.1%.
Acorn’s Group finance director, Joanne Richardson, said: “With most of the world in lockdown, it was inevitable that we would install fewer stairlifts globally during the period covered by this report, but we recovered quickly.
“These are a positive set of results and a credit to everyone working for Acorn through what has been one of the most challenging periods in the company’s history.”
As well as its UK business, Acorn operates throughout western Europe, the USA and Canada, Australia and New Zealand, and South Africa.
All of its stairlifts are manufactured in the UK, at factories in Steeton and Shipley, West Yorkshire, and at Haddington, near Edinburgh.