BSH UK profits boom after price increase
BSH UK experienced a huge boost to its profits in the last financial year thanks to price increases on its products, in spite of a decrease in its overall turnover figure.
In its 2022 accounts, just filed with Companies House, the appliance giant revealed that pre-tax profits were up by over 26% on the previous year to £30.2m.
This increase in profit is despite a slight fall in turnover to £811m, roughly 4.4% lower than the previous year.
In the report filed yesterday, BSH UK said it was “necessary” to increase product prices to reduce the impact of “inflationary pressures, rising material and logistics costs, the invasion of Ukraine and its impact of food and energy process, [and] a fall in consumer confidence.”