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Coronavirus prompts £600k Ableworld stock ramp-up ahead of 31% profit rise

Shresbury Stock In store

The Coronavirus outbreak and expected stock shortages in the country has prompted Ableworld to ramp up its stockholding by £600k.

This means stock levels will increase by 25%.

It comes as the company confirms it anticipates a 31% increase in profits within its main trading company, Ableworld UK.

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Ableworld has already stated a like-for-like sales increase and, in its last financial year, showed a 15.79% increase. The company told AMP its accounts are currently being finalised.

Commenting on the Coronavirus forced stock move, Mike Williams, managing director at Ableworld, said: “With the uncertainty of stocks in the coming weeks and months, the company has taken the decision increase its overall stock holding by 25% – around an extra £600,000.”

He added: “Luckily over the last couple of years we have ensured we purchase a lot more British made products, however even British Made often have imported components.

Concluding: “Fortunately, we are in a strong position and it is the beginning of the season, so the decision was an easy one to make.”

In December, Ableworld’s Mike Williams exclusively told Access and Mobility Professional that the business was welcoming a majority government.

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Tags : ableworldCoronavirus
Alex Douglas

The author Alex Douglas

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