Growth is set to accelerate at a Queen’s Award-winning family business with the benefits of relocating to larger premises earlier this year already being felt, new accounts covering the period leading up to the move have revealed.
Pricecheck is a second generation family owned business, established in 1978 by the parents of Mark Lythe and Debbie Harrison, who now run the company as joint managing directors.
A supplier of international branded consumer goods, Pricecheck works predominately in the health and beauty sector, dealing with discounted clearance stock.
In February this year, Pricecheck relocated to larger premises in Beighton (pictured) where it has sufficient space to accommodate the rapid growth experienced by the business.
In accounts for the year to 30 April 2016, Pricecheck said it had already experienced a 25 per cent uplift in turnover from the first six months of operation at Old Colliery Way. The company’s workforce also topped 100 for the first time at the end of August.
Despite the distraction and costs associated with the relocation, Pricecheck maintained its growth through 2015/16, increasing sales from £40.5m to £43.6m and net profit after tax by 4.6 per cent to £816,424.
In 2015, Pricecheck scooped a Queen’s Award for Enterprise in International Trade, reflecting the growth of its overseas activity since developing a dedicated export strategy in 2009.
The company today supplies retailers in more than 70 countries and export sales made up £14.3m of its total turnover in 2015/16.
Relocating to larger premises is designed to support plans to double turnover to £80m, and increase staff numbers to 150, over the next five years.
A spokesman for the business said: “The new building and larger team are expected to drive sales beyond £50m in the current year and our new product categories of food, confectionary, soft drinks and pet care have been particularly successful.”