No Brexit fears for The Cambridge Satchel Company
01/07/2019
The company explained that, because it buys leather in sterling and pays most of its other costs in its home currency too, its business should continue as usual when the UK leaves the European Union.
It released its most recent annual results (for the 12-month period to June 30, 2018) in June this year, showing turnover of £11.2 million, which is a decline of 4% compared to the previous year. Its gross profit was down by 22% at just under £5 million, but it also reduced the value of the raw material stocks and finished product inventory it carried at year-end.
It said that since the close of that financial year it has launched two new initiatives it hopes will help it grow. It is building a new Chinese website on which it will keep full control of content, customer details and pricing.
The Cambridge Satchel Company was established in December 2008 by Julie Dean. Ms Dean has said she would celebrate the company’s tenth anniversary year as a platform for launching “an exciting new product range” and extend its customer base.
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