Multi-site bespoke envelope and packaging manufacturer the Encore Group has released its results for the past financial year.
The company, which comprises packaging and envelope divisions in Washington, Peterlee and Dewsbury, posted its results for the year ending 30 November 2020 earlier this month.
While sales revenues were down by £1.1 million to £34.9m million, the net profitability of the company remained steady at five per cent of turnover.
Group managing director David Cooper said that the UK industry remains fiercely competitive, with a mixture of aggressive pricing from the industry, cost increases throughout the supply chain and the lingering threat of the Covid pandemic.
He added: “We’re obviously very pleased to get through 2020 with a positive outcome. We’ve all had a lot to deal with in 2020 with the pandemic and we’re proud of the way that our workforce has adapted to the Covid situation and thank them all for their hard work over this period.
“To have been able to work through this difficult period whilst retaining a large proportion of work creates a solid base from which to move forward into hopefully better times for the country as a whole as well as the business in future.”
The group is targeting further packaging growth going forward as well as retaining its position as the UK’s largest independent manufacturer of printed envelopes.
Encore secured BRC Global Standards accreditation in 2018 and has continually achieved the highest standard, AA, allowing it to produce printed packaging for direct food contact, widening its potential market considerably.
Mr Cooper added: “We’ve seen huge amount of work put in from our staff to build the foundations for a strong packaging operation over the past eight years and we’re now looking ahead with cautious optimism about the future.
“We hope to see the Covid recovery continue and achieve solid growth in the packaging sector, whilst working tirelessly to retain our market leading position in the envelope sector.”