Precision Proco returned to profit in the 2025 financial year according to reports published by Companies House last week.
This represented a “significant turnaround for the group” and is attributed to a “laser like focus on margin improvement and operational efficiency”. It is also due to a bounce back in sales. There was a 5% increase in turnover to £71.4 million (£67.9 million) which was up too on the 2023 figure of £68.5 million.
The 2024 results also included an approximately £2 million loss of revenue due to a cyber attack. This led to significant remedial and additional preventative costs and led to the introduction of enhanced cybersecurity measures. There has been no repeat.
In 2023 Precision Proco had produced a pretax loss of £910,207 in 2023 which grew to £1.6 million for the 2024 financial year. In the year to March 2025, this became a pretax profit of £991,781. Ebitda increased to £5.4 million (£3.1 million) with a 1% drop in gross profit margin to 26%, the result the company says of a change in the sales mix.
As well as the emphasis on efficiency, the task is the focus of a group wide operational leadership team. This is charged with driving efficiency and accountability, increase visibility and targeting areas for improvement. This includes a loss of 20 staff from production and a further 20 from administrative roles. At the end of March Precision Proco employed 454. At the start of April it named two new directors, promoting Carl White as IT director and Paul Wooley, who had been an adviser to the business.
Having invested heavily in 2024, with a Muller Martini binder and Indigo W6800 label press as the focus, Precision Proco has continued to invest to ease capacity issues and improve efficiency. It has, the company says, “identified opportunities and has entered new and exciting markets while connoting to increase its product offering” without being specific.
It purchased plant and machinery to the tune of £1.24 million, compared to £2.0 million in 2024.
The consequence of the work will position Precision Proco for future success despite ongoing challenges in the market place, which has led to business failures across the industry.
