The Ultimate way to succeed

OLDHAM company Ultimate Products, the country’s largest Far East sourcing group, has reported a 28 per cent increase in sales to £78.3million for the year ending July 31, 2010, on the back of increased demand from UK and overseas retailers.

The business, which operates from a 175,000 sq ft warehouse and showroom complex in Chadderton with offices in Belgium, India, China and Hong Kong, saw profits rise 31 per cent to £6.8 million, before exceptionals were taken into account.

Based at Manor Mill, Victoria Street, the company designs, sources and supplies more than 3,000 leading products for hundreds of well-known retailers.

Revenues from the firm’s international customer base performed particularly strongly, with sales to the US now in excess of £10 million and there has been further growth from Europe.

Organic growth from existing UK customers — including retail giants Tesco and Argos — as well as independents, mail order companies and TV shopping channels, also accelerated over the period.

Ultimate Products works closely with retailers’ in-house buying teams to develop bespoke ranges and merchandise entire product categories.

The business supplies 16 categories, from homewares and electricals to lighting and furnishings.

Chairman Jim Hodkinson said: “The company has benefited from continued investment in developing its overseas markets. In the UK market, Ultimate’s ability to provide competitively-priced ranges on quick turnaround times has enabled us to secure much better than expected orders, as the high street becomes increasingly value-driven.”

Chief executive officer Simon Showman added: “With careful cost control and tight cash management we have been able to navigate our way through the downturn much better than others.”