RPM reports fall in turnover and operating profits

RPM has reported a 13% decrease in turnover and a 50.89% fall in operating profit for the year ending 31 March 2014.

Hugh Robertson, founder, RPM
Hugh Robertson, founder, RPM

In a report filed on Companies House, RPM’s turnover dropped from £22.25m in 2013 to £19.36m in 2014 whilst operating profit halved from £942,693 to £462,891.

Profit on ordinary activities before taxation also saw a significant decline of 57% from £938,541 to £396,839, with profit for the year, after taxation, amounting to £172,023, down from £697,622 in 2013.

The agency’s board of directors explained in the report that the fall was triggered by a "consequence of a quieter summer period compared to the previous year, which was buoyed by the London Olympics."

The report continued: "This downturn was anticipated and careful management of cost of sales and administrative expenses ensure that the company maintained its gross and operating profit margins on a like-for-like basis. The net asset position and cashflow remain strong."

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