Business & Economy
Pacifica Group ‘positive’ for future after coming through COVID-19 challenges
December 1, 2020
A national domestic energy and appliance services provider says it has a “solid platform for the future” after reporting positive financial results despite the COVID-19 pandemic.
Pacifica Group, headquartered in Houghton-le-Spring, County Durham, saw annual group revenue rise to more than £12 million to £54.2 million.
However, according to its results, which cover the period to March 31, 2020 and were unveiled today (Tuesday, December 1), earnings before interest, tax, depreciation and amortisation (EBITDA) came in lower at £1.5 million, as the early part of the pandemic affected operations.
But officials say the number also reflects significant investment in Pacifica Group’s management structure and development, which will bear fruit in future years.
They say the outlay is already being highlighted by the increased activity of its field-based engineers who are, in the current financial year, making in excess of 8500 customer visits every week across the group’s divisions.
During the financial year, the group also completed the acquisition of Oakes Energy Services Ltd, which provides solutions such as air and ground source heating.
Kevin Brown, chief executive, said: “We are very pleased with our performance as the COVID-19 pandemic presents significant challenges, which we recognised early in 2020.
“However, the multiple initiatives and measures introduced since the March lockdown have put the group on a solid platform for the remainder of the current financial year and the future.
“A clear indication of this has been our confidence to continue to grow through acquisition.
“Despite the pandemic, we have pressed ahead with our strategy with the investment in TK Garnham, which has added around 18,000 repairs per annum to our appliance services business, and we have a pipeline of targets for further acquisition.
“The dedication and agility of our team throughout this period has been sterling and they have made a major contribution to ensuring we adapted quickly to the pandemic, enabling us to continue to operate and give our customers the confidence that we would ensure safety when working in people’s homes.”
Pacifica Group includes Pacifica Home Services, Pacifica Appliance Services, 0800 Repair and its UK Warranty operation.
Through its Home Services and Appliance Services divisions, the group undertakes repairs and installations across the UK on products including washing machines, dishwashers, boilers and renewable technology, working closely with manufacturers and blue-chip clients such as Electrolux, Sony and Hisense.
Its Home Services division works in the social housing and new build sectors, and supports the big six utility providers and insurance companies across the UK.