Newspaper article The Journal (Newcastle, England)

Pacifica Group Reports 32% Turnover Increase

Newspaper article The Journal (Newcastle, England)

Pacifica Group Reports 32% Turnover Increase

Article excerpt

Byline: COREENA FORD Business writer coreena.ford@reachplc.com @Scoopford

ANORTH East home services firm is toasting a record year with a 32% boost in turnover off the back of a number of acquisitions.

Pacifica Group, based in Houghton-le-Spring, was started in 2003 by a team of four energy sector experts to become a leading home appliance servicing, repair and refurbishing company. It now employs more than 400 people.

The firm also sells insurance products and installs renewable technology and central heating systems across the UK and Ireland, and also reaches into Europe and Asia.

Now the business, shortlisted at the North East Business Awards in the company of the year category, has unveiled its financial performance for the year ended March 31, showing a significant lift in turnover, from PS27.2m to PS36.1m.

Ebitda also grew from PS1.1m to PS1.2m, despite a number of acquisitions impacting on the financials, knocking operating profit from last year's figure of PS548,270 to PS37,073.

In the year ahead, however, directors said they expect to see strong results and another PS6m jump in sales.

In a report accompanying the accounts, directors said: "The group has acquired a number of businesses throughout the period as the business continues to execute its plan of adding depth to service delivery and increasing the channels it operates in.

"The acquisitions have impacted earnings in the period, however the business will see the benefit of them in future periods.

"The business has grown through reputation within our sectors. The business is committed to growing organically through new and existing client contracts as well as the broadening of the service proposition. "The group expects to increase revenue to over PS42m to March 2019. The group will continue to focus on its core objectives; 'to be the best at what we do' and 'to deliver world class service to our customers'. …

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