Vohkus sharpens focus on margin as sales soar

Reseller's sales up a third year on year

Reseller Vohkus has increased its sales and margin figures in its latest financial year, according to accounts filed with Companies House.

For the year ending 31 May 2015, turnover jumped a third (33 per cent) to £61.6m compared with the 12 months prior. The growth figure is its highest to date. The company's sales have almost trebled since 2009 when sales reached £21.9m.

The lion's share of its sales - £59m - came from the UK, with more than £720,000 coming from Europe and £1.9m from the rest of the world. Sales in all regions were up annually.

Last year the company opened a sales office in Sheffield, its fifth in the UK alongside offices in central London, Heathrow, Hemel Hempstead and its HQ in Southampton.

The firm boosted headcount by a quarter over the period and margin jumped from 19.7 per cent to 21.2 per cent.

"Vohkus has continued to attract new customers in all business sectors and this customer base ensured there is no dependency on one individual customer or on a single sector," the company report said.

"The key performance indicators of the company are turnover growth and gross margin percentage. Vohkus has an aim to improve its gross margin through a move towards contracted service income and the sale of specialised technologies."

In the "risk factors" section of the report, it added: "While the level of credit insurance available in the economy remains generally low, the vast majority of the company's turnover remained insured and the directors are pleased to report that the level of bad debts for a third consecutive year was negligible.

"Vohkus Limited has a large range of suppliers with whom it enjoys healthy trading relationships. However, Vohkus continues its policy of securing more favourable terms with a number of key trade partners."