Published: 00:01, 24 February 2018
Historic printer and copier supplier Geerings suffered a fall in profits amid “difficult market conditions”.
The Ashford-based company, founded in 1903, reported a 10% decline in turnover to £5.4 million in the year to March 2017.
Pre-tax profits were down 32% to £252,000 after a 22% drop in operating profit to £363,000, its latest accounts show.
Chairman and joint managing director William Geering, great grandson of company founder Walter Geering, said “every effort is being made by the company to improve both its profitability and sales by providing high levels of service, quality and innovation to all its customers”.
The business, which employs about 50 people, has a property management arm which trades “for the sole purpose of adding value and selling on”.
It made no property deals during the year “due to poor market conditions”.