Pimlico Plumbers has delivered an increase in its pre-tax profits in its latest financial year, “defying the potential impact of the early months of the coronavirus pandemic”.
The central London-based company achieved turnover of £43.27m for the 12 months to 31 May 2020. This is compared to £44.84m reached during its previous financial year.
Without the pandemic, Pimlico was on course to achieve record turnover in excess of £46m, it said.
Pimlico maintained similar levels of profit for its 2019-20 financial year. Pre-tax profit rose to £4.95m, up from £4.7m in 2019.
Charlie Mullins, founder and chairman of Pimlico Plumbers, said: “No business has been immune to the effects of the coronavirus pandemic, but we have worked incredibly hard to find ways to work around it while keeping our people and our customers safe, which has delivered positive financial results.
“Reaching numbers close to 2019’s results, based on the state of the economy and the restrictions and lockdowns we have had to deal with, is quite an achievement. We were on course for our best year ever, but rather than dwell on the ‘ifs and maybes’, we should actually hold up this year as proof that fleet of foot entrepreneurial businesses can overcome big challenges.
“I am also confident that the changes we made at the start of the pandemic will have a positive impact on our current financial year. We have benefited from customers investing the money they would have spent on holidays in their homes while also giving those booking either planned work or emergency call outs the confidence they can safely welcome our engineers into their homes and businesses. There’s no better example of this than a record we set this month for home visits on a Monday, recording 600 compared to 500 set in March 2018.”