Newly-filed documents reveal that Wilkinson Sword, despite experiencing a turnover boost, has witnessed a significant increase in its pre-tax loss over the latest financial year.
The firm, known for grooming brands such as Playtex, Hawaiian Tropic, and Bulldog skincare, reported a revenue of £132.4 million for the year ending 30 September 2023, an increase from £116.9 million during the previous 12 months. Despite this boost in turnover, Wilkinson Sword saw its pre-tax losses deepen, rising from £4.4 million to £10.3 million during this period.
The primary factors contributing to the widened pre-tax loss include rising production costs, investments in marketing for Bulldog, a partial loan write-off from an associated company, and further depreciation on investment in an associate.
In the UK, the company’s sales increased from £60 million to £64.3 million within the year. European sales rose from £55.4 million to £66 million, and rest-of-world figures grew from £1.4 million to £2.1 million.
A statement from the firm’s board, included with the accounts, noted, “The external commercial environment is expected to remain competitive in the next financial year.” It further stated, “The company continues to seek opportunities to increase sales, market share, profit, and maximise future opportunities.”
Additional filings revealed that Bulldog reported a turnover increase to £765,089 from £655,651, with its profits also climbing from £609,136 to £879,769.
Wilkinson Sword’s filings were submitted to Companies House over two months past the deadline. Looking ahead, the company’s results for the year ending 30 September 2024 are expected to be submitted by the end of June 2025.
Established as a gun manufacturer in County Durham in 1772, Wilkinson Sword is presently under the ownership of American firm Edgewell Personal Care, which was formed in 2015 following a spin-off from Energizer.
Therefore, while Wilkinson Sword has seen an uptick in revenue, the company faces challenges related to increased losses driven by higher production costs and strategic investments.
