According to figures posted on Companies House the company posted profits of £925,398 for the year ending 31 March, down from £2.64m recorded the previous year. This is despite revenues increasing from £16.75m to £16.98m over the same period.
David Nieper said it invested strategically as to become “less reliant” on nightwear and to become more focused on “fashion womenswear” in order to raise its brand position and achieve higher average order values.
It also noted that the company has begun to “embrace the digital revolution” with further investment in automated machinery to improve productivity. In the long-term David Nieper identified the “lack of skills, combined with poor local education, and a lack of aspiration amongst young people” as a prominent risk to the business.
It additionally identified the fact that British textile production has almost entirely moved “offshore as a concern”.
Going forward the board of the company said: “ [We} will favour organic growth funding the future from reserves and continue the established format of reviewing asset allocation with due recognition to outstanding liabilities, working capital, threats and opportunities.”