The end of the Covid-19 pandemic's height led to a near £100m drop in turnover at a provider of PPE to frontline workers, it has been revealed.
Woolston-based Crest Medical enjoyed a spike in its turnover from £50.7m to £150.7m in the 12 months to March 31, 2021, as the pandemic hit the UK. That led to it posting pre-tax profits of £7.1m, up from £37,229.
However, as the need for PPE declined in the year to March 31, 2022, the company's turnover dropped to £54.9m while its profits totalled £764,417.
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The sales spike during its previous financial year led to the business being named as one of the fastest-growing private companies in the North West.
A statement signed off by the board said: "The group, under its trading brands, is a well-established supplier of medical products to the first aid, occupational health, retail, medical, pharmaceutical and hospital markets in the UK and abroad.
"The group has chosen to grow both organically and by acquisition.
"The directors have considered the impact of the Covid-19 pandemic on the company.
"Whilst acknowledging that the business will be affected in the year ending 31 March 2023, the directors believe they have put suitable measures in place to ensure that the company will continue its activities going forward."
It added: The directors are continually seeking opportunities to expand the business and to drive enhanced financial performance from the core business.
"Crest Medical Holdings Ltd is well placed to exploit significant growth opportunities that exist in the healthcare market."
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