Last Published Accounts Show Starstedt Profits SoaredService Engineering
Starstedt’s main source of business is through the supply and delivery of products and apparatus to labs and hospital environments.
At the time the accounts were published, Managing Director Hugo Costa, who started his career in the company as MD for Portugal in 2017, expressed his assurance that performance will be maintained. This is even considering the fact that the external environment was forecast to show a similar level of competitiveness.
“gross profit margin saw a 2% rise to 26%, and the total net profit for 2021 was approximately 85% higher than 2020“
At this time, Covid 19, the Ukraine-Russia conflict, and the increase in energy costs all showed no extreme negative impacts on the business.
Although this sounds positive, there are many risks to be considered when it comes to business management and putting longer-term plans into place. In this case, the primary problems concern the financial stability of consumers within the life science and healthcare markets.
Starstedt expects to keep these under control by upholding strict quality standards and creating tight collaborative relationships with both clients and those within the wider company.
As a result of Covid 19, there was a change in the number of products and services offered by the business, hence having a knock-on effect on both sales revenue and gross profit.
Sales revenue did not waver significantly; however, it fell by £1.4m (approximately 6.5%) between 2020-21 £21.2m.
On the flip side, the gross profit margin saw a 2% rise to 26%, and the total net profit for 2021 was £1.27m (approximately 85%) higher than 2020, hitting £2.77m.
Full accounts published Dec 2022 for business year 2021 https://find-and-update.company-information.service.gov.uk/company/01030863See all the latest jobs in Service Engineering