BREAKING: Drive DeVilbiss’ profits plunge 80% but appetite for growth continues

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Drive DeVilbiss has posted a significant drop in its post tax profits compared to 2015.

Its full-year results for 2016, published today on Companies House, showed that post tax profits in 2016 were £174,000, compared to £978,000 in 2015 – a hefty 80% drop.

It is thought though that this may be partly attributed to its acquisition of Mountway Ltd and Park House Healthcare in 2016. It also acquired the Sidhil Group in January this year.

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The company revealed that it will be looking to increase its market share in the future across all the sectors in which it currently operates.

The report stated: “The Directors will continue to assess growth opportunities in the future, both organically and by further acquisition.”

The group has recognised that it is operating in a highly competitive market, particularly around price and product quality. It admitted that this not only results in downward pressure on margins, but also in the risk that its customers’ expectations may not be met.

As a result, it is continually monitoring market prices and is doing ongoing market research.

Another risk it has identified is its supply chain. As a company that focuses on product availability, it has outlined concern that is supply chain is exposed to delays and loss of products during transit and fluctuating shipping costs.

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