Fortoak year end results show growth
Fortoak announces solid revenue growth for its fiscal year ended August 31, 2020.
Highlights for the period include:
- Fortoak Rolls achieved growth of >42% year on year to £12 million revenue.
- Fortoak Group achieved £18 million in revenue.
- Overall increased profitability across the group.
- Growing balance sheet supported by high cash generation.
Alex Vergopoulos, Group CEO said
These results are testimony to our incredible team. Throughout the COVID-19 crisis, Fortoak has remained fully open for business and adapted our business to supply essential PPE to NHS trusts at the front line of the pandemic.
I am immensely proud of the fact, as a business, we did NOT furlough any staff and in fact recruited during these unprecedented times. I thank everyone involved for their help and support.
We have some exciting news to share over the coming months which underpins all the hard work we have put in to structuring the wider business for long term success. The future looks very encouraging for us despite uncertain times for our industry, the country and indeed the wider world. Thank you all for your continued support.
With over 40 years in the industry, Fortoak is a leading supplier of till rolls, labels, PPE, packaging and speciality raw materials. For more information please visit our website.