Further Investment Planned For Encore Following Growth In Sales
Posted on the 8 August 2016
Washington-based Encore Envelopes has announced a pre-tax profit of £1,090,000 for the 12 months to the end of November, with a 3% increase in sales taking turnover from £28.4m the previous year to £29.3m.
This is the second year of significant growth for the company, which is the UK’s largest independently owned printed envelope manufacturer. Combined with its sister company Encore Packaging Solutions, Encore Envelopes produces the packaging for more than one in five of all UK postal items delivered by Royal Mail each year.
The increase in turnover has been attributed to the first full year of production following Encore’s acquisition of the UK subsidiary of Spanish envelope giant, Tompla Envelopes, in 2014.
Managing Director Russell Croisdale said: “Thanks to the increased sales we have been able to maintain our underlying profitability which is so important for us as this generates the cash necessary for our continuous investment programme, which keeps our factory ahead of the competition in both efficiency and innovation.
“With a brand new £1.3m printing press and increased storage space following the relocation of our packaging business, Encore Packaging Solutions, to its new 73,000 sq. ft. premises at Peterlee, we remain committed to providing our customers with the highest quality product at a competitive price, with flexible stockholding arrangements all in-house.”
In addition to its investment in new machinery Encore is also investing in its environmental credentials, having recently appointed a newgroup quality and environmental manager who will be supporting the company to achieve the BRC Global Standard for Packaging, allowing it to meet additional manufacturing and hygiene standards and expand its current offering for customers.
And with further plans in place to target new markets in future it is hoped the growth in sales experienced last year will continue in 2016.
Russell added: “We have made significant appointments of key staff over recent months and these, coupled with the investment made in the factories, are now starting to pay off for us. We have also committed to further state of the art machinery which will allow us to diversify into markets new to us – so exciting times for all at Encore!.”