Cookstown kitchen door firm reports sales growth but pre-tax profits drop
A Co Tyrone company which makes bedroom and kitchen doors has reported a 6.5% growth in sales to £29.6m.
But pre-tax profits at BA Kitchen Components in Cookstown were down by around 36% to £3.6m. Cost of sales climbed from £19.1m to £21.8m.
Staff numbers at the firm were steady at 231 over the year to the end of March 2019, giving rise to a £6.9m pay bill.
The company was founded by twin brothers Brian and Kieran McCracken, who are directors of the business. Nicholas Corlett, the company's chief executive, is also a director.
A strategic report by the directors, accompanying the results filed at Companies House, said the figures and its end of year position were satisfactory.
"The directors are confident that their strategy will result in future growth and will seek every opportunity to increase profitable turnover. "
It said that during the year the company had made "substantial progress" in developing new products, investing in machinery, in people, and moving into complete kitchens.
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"Despite an uncertain economic environment, early results for the incoming year are satisfactory."
But the report added that the business was subject to risks such as general economic conditions, and sectoral factors like currency fluctuations and demographic trends.
Just over two years ago the company announced it had received funding from H2 Equity Partners, which it said would enable it to continue investing in its manufacturing sites and bring out new product ranges.
BA has become a major manufacturer and exporter to the UK, European and global furniture components industry. It supplies over 50,000 doors a week to companies worldwide, selling to nearly 30 countries.
As well as its site in Cookstown, the company also manufactures in Doncaster and at BA Clic Components in nearby Rotherham.