Ottobock, one of the industry’s largest suppliers of orthotics and mobility equipment, has maintained steady sales in the last year, achieving just shy of £22m in revenues, which is a 4% rise on its previous results.
Amid a tough year for suppliers in the mobility market, Ottobock’s directors said they were ‘pleased’ by the company’s latest results considering its forecasts, according to its latest strategic report for the year ended 31 December 2017.
The supplier will remain committed to tendering for NHS clinic contracts in the coming year, the directors stated, who are aware of the risks of turnover being partly reliant on certain contracts.
Ottobock’s directors said: “The year ending 31 December 2018 is viewed with a degree of uncertainty due to prevailing exchange rate conditions.”
Operating profits for the year were more than £820,000 compared to just over £1m the previous year, which was a tough period to match.
The company’s previous results, published in July, revealed a 90% increase in its post-tax in 2016 compared to 2015 and increased its turnover by 8% to £21m.
Pre-tax profit shot up by 85% from £157,000 in 2015 to over £1m in 2016. The company attributed this mainly to an improvement in gross margin. EBITDA in 2016 also increased by almost £1m compared to the previous year.