Year End Statement
2021 is over, and for many they will be glad to see it finished. For us here at Stewarts we set our expectations at modest levels, and we are on target to deliver those goals.
- Our Budget was set at £6.65M and while we have fallen very slightly short, at £6.58M it is fair to say we have had some noticeable successes
- Every Job at SBG has been preserved
- Our customer base has been preserved
- We remain a respected and reliable supplier
- We have met all our KPi’s
- We have cleared the EBT loan, 6 months early and enjoyed a handsome bonus
- We have used the company’s financial reserves to minimise the financial consequences of Covid
- We have maintained a healthy Bank balance
- We have as shareholders, enjoyed an increased dividend, albeit a modest one
- We have celebrated some noticeable retirements, and are excited by some new appointments
In summary I would suggest 2021 results were about as much as we could have expected given everything that was happening around us.
I do believe that our employee ownership model was a key part of that journey, and we now look forward to 2022, knowing that SBG is in a good place for the challenges ahead.
The figure is £7.15M.
This is an increase of £600K on what we achieved in 2021. Some of this will come from price increases, but the rest needs to come from increased Sales and production. Early intelligence would suggest as 2022 progresses we should see business start to recover, and we need to be able to respond to that.
Cost pressures are enormous with double digit increases in Raw Materials, and even triple digit rises in some areas predicted.
We expect the first 3 months of 2022 to be a challenge, and will need close monitoring, but all the companies’ reserve, whether financial or otherwise will be used to see us through, and of course we have our ownership model at the heart of that.
In accordance with statutory requirements, John McNealis’ s term as elected director is ending today. Following procedure, Michael Fitzsimmons was elected as elected director and his appointment commences today.