Instanta bosses are “satisfied” with the water boiler manufacturer’s performance after its latest annual accounts showed an increase in profits despite a marginal drop in sales.
Revenues for the 12 months to 30 June 2017 reached £4.18m, slightly lower than the £4.21m it made the previous year, according to Companies House filings prior to Christmas.
Operating profit at the firm, which makes countertop water boilers, undercounter water boilers and sous vide equipment, rose from £698,536 to £795,274.
Net profit grew 13% year-on-year to £636,861, with the company paying out a dividend of £600,000 to shareholders in the year.
In their review of the business, the directors said that revenues and profits were in line with expectations.
“The directors are satisfied with the performance and position of the business at the year ended 30 June 2017,” they stated in the report.
Looking forward, the directors said they expect the present level of activity “to be sustained for the foreseeable future”.
Last year Instanta added next-day availability to its products, allowing customers to get hold of its products with minimal delay.
The business has been operating for more than 60 years and employs 40 staff, with a large proportion of these based at its manufacturing operations in Southport.