Profits up at Dr Organic

Pre-tax profit has grown at skincare products business Dr Organic in the year following its takeover by NBTY (Insider Media, 2017). The latest results also cover the acquisition of new Swansea headquarters.

The company, founded in 2008 by Steve Quinn and Fred Whitcomb, makes a range of natural skincare products including Moroccan Argan Oil Shampoo, Manuka Honey Body Butter, Coconut Oil Moisture Melt and Organic Snail Gel.

According to recently filed accounts, Dr Organic Ltd reported a pre-tax profit of £2.9m on turnover of £16.3m in the ten months ending September 30th 2016. This compares with the company’s previous eleven month accounting period when a pre-tax profit of £1.6m on £19.2m turnover was achieved.

Operating profit before exceptional items fell from £4.7m to £2.9m, reflecting the shorter accounting period, an increase in brand and promotional support costs and increased overheads as a result of the move to new headquarters.

The acquisition by NBTY was cleared by the Competition and Markets Authority at the start of the financial year, in December 2015.

Dr Organic also acquired the 18.75 acre former Alberto Culver (Unilever Plc) site at Llansamlet Enterprise Park from Swansea City Council for its headquarters during the period. It said the site, including a distribution, manufacturing, design centre and head office facility, could support the creation of a hundred and ten jobs within a period of two to three years.

In their report accompanying the accounts, the directors said “The directors are both confident and optimistic of the future trading outlook of the company into 2017 and beyond. The company has a number of exciting opportunities both in terms of customers, markets and new products. There continue to be a number of export markets that the company will look to develop whilst maintaining its strong domestic presence. Continued growth of both our products and the markets that these are sold into should continue to ensure strong financial performance going forward.”

In 2016, Dr Organic was one of twenty five Welsh companies named in London Stock Exchange’s 1,000 Companies to Inspire Britain report.

Free WordPress Themes, Free Android Games