Why is this KPI important?
Sustainable improvement in profitability is a strategic priority.
2020 performance
Sales have recovered well in HY2 particularly in Domestic and International. Whilst Group revenue for the full year is down 13 per cent on the prior period, the decrease in total revenue in HY2 had improved to be only 1 per cent behind the 2019 comparative.
Profit before tax (before operational restructuring costs and asset impairments) was £22.5 million which was ahead of expectations. Trading in 2021 has started strongly.
Principal risks
• Further COVID-19 impact in 2021
• Macro-economic and political
• Customers
• Increased rate of digital change
• Cyber security risks
• Competitor activity
• Security of raw material supply
• Climate change
• Further COVID-19 disruption
Risk mitigation
• Close monitoring of trends
and lead indicators
• Diversity of business
• Customer centricity
• Digital Strategy
• Innovation and new
product development
• Focus on cyber
security controls
• Proactive supply
chain management
Stakeholder linkage
• Customers
• Suppliers
• Employees
• Communities
• Shareholders
• Employees