ESG
We're going paperless!
We're making strides in reducing our and our customers' carbon footprints.
One of the largest workwear companies in the UK has posted financial results which show resilient underlying profitability.
Derbyshire-headquartered Mi Hub is behind the Dimensions, Alexandra, Affinity and Yaffy brands.
In newly filed documents for the year to 30 July 2022, the company has reported a turnover of £152.6m, down from £169.5m in 2021.
Pre-tax losses went from £5.5m to £14.7m.
Chief executive Hayley Brooks said: "The financial results for FYE 31 July 2022 show strong workwear sales growth of more than 10 per cent over the past year and resilient underlying profitability with EBITDA growing from £6.6m to £9.1m.
"The results reflect our continued investment in our service lines and international growth. It was also a transitional period for our business as we completed our exit from the non-core PPE market following Covid, driving one-off impairment losses of £18.5m."
She added: "We're focused on our workwear business as we roll out new uniform ranges across the UK and build on our acquisition of Affinity Apparel in the US as part of our international expansion strategy.
"In the first six months of the current financial year, we've recorded a further ca. 15 per cent growth in revenues and a corresponding increase in profitability reached following last year's exceptional items."