DYNAMIC brand owner and service provider SHS Group has held on to its turnover in the last year despite what it says has been a "challenging year of supply chain disruption" allied with increase energy and transport costs, labour shortages and political instability.
The firelighters-to-alcopops consumer goods giant, a key player within the north's fast moving consumer goods (FMCG) sector, has reported sales of £642.2 million in the 2022 calendar year.
But while revenues were basically flat when compared to the previous year (£641.4 million), it had more than £6 million wiped off its bottom line, with profits falling from £17.8m to £11.2m.
Gross margin, a key performance indicator for the group, was 14 per cent during the period compared to 15 per cent a year earlier.
SHS Group, founded by Joe Sloan and the late Geoffrey Salters in 1975, owns brands a clutch of top brands such as the WKD alcopop, which it describes as a "premium packaged spirit" and it its biggest-seller.
Its other owned brands include Merrydown Cider, Shloer, bottlegreen, Crucial Sauces, Zip & Sunny Jim firelighters and Maguire & Paterson matches, and it also distributes brands including Jordans, Ryvita, Pot Noodle, Finish, Mars Drinks and Colgate.
SHS is also a market leader in the supply of own label herbs and spices in Britain and manufactures branded and private label condiments and sauces.
The accounts show that staff numbers at Belfast-based SHS increased from 1,271 to 1,317.
But despite this, the company's overall wages bill actually fell from £58.2m to £57.7m.
The directors were paid a combined £2,243,425 (down from £2,614,846 previously).
SHS remains one of the north's biggest indigenous tax-paying companies (last year it was charged £3.5m in corporation tax, though this was down from £4.9m the year before).
In July this year the company announced that Arthur Richmond, the group’s chief operating and financial officer, was being promoted to chief executive, where he succeeded Elaine Birchall.
He is responsible for overseeing the strategic direction of SHS Group and driving its continued growth and profitability.
Speaking at the time he said: “Our industry is constantly evolving, and it presents both challenges and significant opportunities. I am confident in our ability to navigate these changes and continue to deliver solid results.
“At SHS Group, we have a remarkable team and a culture that values innovation, excellence, and responsible business practices. I am eager to further strengthen our position in the FMCG sector, driving growth and profitability while upholding our commitment to our people, business partners and communities.”
