The IG Group profits quadruple after Covid recovery
Meanwhile, it has unveiled £3m growth plans, including the creation of an additional 90,000 sq ft warehouse facility in East Durham
The IG Group, which supplies hospitality outlets nationwide with crockery, cutlery and glassware, has reported that its pre-tax profits increased from £232,110 to £1m.
During the difficult trading period through Covid up to year ending July 2021, Innerglass Limited -IG Group’s parent company – also saw a slight sales dip from £22.2m to £21.5m, while it’s EBITDA rose from £475,669 to £986,709.
Meanwhile, it has unveiled £3m growth plans, including the creation of an additional 90,000 sq ft warehouse facility in East Durham, located at Swan Road, South West industrial estate, Peterlee adjacent to the current IG distribution centre on the North West industrial estate.
Managing director, Stephen Hoey, said: “We would like to thank all our customers for their continued support, particularly during Covid.
“During the pandemic, our sales into the hospitality and contract cleaning sectors was significantly affected, however, our care home division grew significantly and by quickly developing a PPE range, we gained significant new business.”
