Swallowfield, the Wellington-based cosmetics company, has almost trebled its profits in the past financial year, up from £2m to £5.7m on a turnover that is up from £74.3m – a 36% rise. At the same time the company announced a new finance director. Mark Warren is retiring after eight years with Swallowfield and being replaced by Matthew Gazzard from Thatchers Cider.
Much of the increased sales and profitability is due to Swallowfield’s new emphasis on creating its own brands rather than creating and packaging products for High St giants such as Next. The Real Shaving Co has benefitted from the brand’s sponsorship of Somerset T20 cricket.
Chris How, Chief Executive commented: “It has been a year of excellent progress for the Group with the successful execution of our stated strategy driving us to record levels of sales and underlying profitability. The acquisition of The Brand Architekts has delivered fully against our expectations and has been integrated smoothly and effectively into the Group. In our manufacturing business, continued focus on innovation, quality and service has enabled it to perform solidly in its own right, as well as provided important support to the growth of our owned brands.”