Mobility aids manufacturer Roma Medical has made a loss for a third year running as its turnover continued a very slow decline amid what it has described as “challenging market-led trading conditions”.
The company made a loss of around £470,000 in the year ended 30 November 2017, according to its latest strategic report, which follows a near £360,000 loss made in the previous year.
Turnover fell marginally by £780,000 to just over £9m as part of a trend that has seen sales decline slowly over the last five years.
However the company has insisted in its report that despite the difficult trading conditions its financial position “remains strong with a significant improvement in the cash position”.
Roma’s directors are said to be confident that turnover and profitability will improve in the foreseeable future.
The directors’ report said: “Whilst the market for the manufacture and sale of medical aids and rehabilitation equipment is expected to remain competitive, it is also expected that there will be steady growth.
“The directors recognise that there are significant opportunities in the market place for the company to strengthen its position and on-going product investment is critical to achieving the company’s goals.”
Over the course of the year, Roma said it has invested heavily in new plant and machinery at its manufacturing base in Bridgend to develop its range of sports and active wheelchairs and it has just launched a new mobility scooter onto the market.
This has meant enhance manufacturing capabilities and has made the company less dependent on sub-contractors. The increased control over quality has helped Roma to achieve ISO 9001.
The company is known for its high-performance sports wheelchairs which serve some of the top athletes around the world.
Roma Medical began in its earliest form in 1970 and moved to purpose-built premises in 2004 where it still operators from a 109,000 square foot complex.
Taking on the entire Shoprider range in 2002 saw the company enter the powered market on a large scale and made Roma a one-stop-shop for dealers.