Member News
A North East-based domestic appliance repair and warranty provider has reported strong financial growth, bolstered by strategic expansions and new partnerships.
Pacifica, a leading independent provider of domestic appliance repairs and extended warranties in the major domestic appliance (MDA) market, has achieved revenues of £36.1 million for the year ending 31 March 2024, up from £34.5 million the previous year.
Gross profit rose to £11.7 million, with gross margin improving to 32.5 per cent. EBITDA also saw a 22 per cent increase, reaching £1.1 million.
Bosses at the Houghton-le-Spring company say the improved performance and “good progress” was driven by its success in securing higher-margin contracts and improving operational performance, including “in-house training” of engineers and “increased focus” on IT development to improve efficiency.
Kevin Brown, chief executive officer of Pacifica, said: "I am pleased to report that we remain in a strong financial position and have continued to make good progress against our medium-term objectives.
“This has been possible in the main by a combination of continued investment, organic growth, including the training of engineers utilising Pacifica’s in-house training facility, and increased focus on IT development to improve the customer journey and further improve efficiencies.
Key milestones include the addition of Glen Dimplex Home Appliances (GDHA) to its list of clients, alongside a TUPE transfer of GDHA’s aftersales service team, expanding Pacifica’s field workforce to 300 engineers.
Pacifica has also bolstered its warranty division, acquiring Retracare and winning new contracts to deliver extended warranty products. Notable partnerships with blue-chip clients, including Electrolux, Sony and LG, underline Pacifica’s reputation in the sector.
Meanwhile, the company has appointed Martin Bennett, former Homeserve chief executive officer, as its non-executive chairman. Under Martin’s leadership, Pacifica has already secured new contracts, including a deal with Midea, one of the world’s largest appliance manufacturers.
Kevin added: “The growth we are delivering is part of a continuing forward trajectory, which is enabling us to not only increase our presence in the MDA market, but define how services are delivered in the market, through technology-led infrastructure married with the capabilities and dedication of a highly skilled workforce.”
