Thetford-based cleaning products firm Jeyes cuts annual loss
- Credit: Eastern Daily Press � 2009
A manufacturer which produces cleaning products for the Queen’s household has slashed its losses thanks to investment in its United States operation.
Thetford-based Jeyes, maker of Jeyes Fluid, Bloo and Parozone, saw turnover dip 2.5% to £111.7m for the full-year of 2015, but narrowed its pre-tax losses from £11.7m to £5.5m.
The EADT/EDP Top100 firm said the benefits of cost savings had begun to show, with an earlier restructuring seeing the group closing office space and manufacturing sites outside Thetford.
Jeyes, based in Brunel Way, was granted a Royal Warrant in 1896, and still supplies products to clean the royal household’s kitchens, bathrooms and outdoor spaces.
Its US home fragrances operation now makes up almost half of sales, through its partner Bath and Body Works.
In the latest results, posted at Companies House, chairman Michael Teacher said the US business was expected to continue to see “strong growth”, with its share of group turnover increasing from £54.1m in 2014 to £57m last year.
However he said the UK business, where sales fell from £57.3m to £52m, was more challenging, but added: “I am confident the changes we have put in place, together with the positive reaction to our new product launches, will lead to a step change in sales and profit performance.”
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Investment over the last year saw the group add a Smart Brush and Foam Aroma to its range in early 2016.
The changes were driven by a shift in shareholding in October 2011, after London-based private equity firm Legal and General Venture sold its shares to US investment house Strategic Value Partner.
As part of the review, it saw some of its profitable businesses sold, including its insect control business, and manufacturing sites and offices in the Czech Republic, France and South East Asia closed.