Adanola has filed its accounts for the year to the end of March with the Manchester-based gym-to-street clothing company saying that it had “an excellent trading period”.

But as for current trading, it noted that conditions remain “highly uncertain because of the current weakness in economic fundamentals, including high and persistent inflation as well as some international conflicts”. That said, the directors “remain satisfied with the progress against the company’s key strategic objectives in the current year”.

So looking at the figures for its last financial year, turnover more than doubled. In fact, it was up 105% at £57.1 million. And gross profit beat that percentage figure with a 124% leap that took it to £40.6 million. The gross profit margin rose 9% and profit before tax was up 129% at £19 million. Net profit was £14.2 million, a strong advance on the £6.7 million of a year earlier. At the end of the financial year the company’s net assets had increased 171% to £22.5 million. 

All in all, that’s an undeniably strong report and the company had other good News with total order growth up 98%. Admittedly that wasn’t as strong as the 308% increase of the previous financial year, but as any company gets bigger those growth percentages tend to narrow and 98% can’t exactly be said to be weak!

The increase in the number of units sold actually outstripped total order growth with a 110% rise, suggesting that customers are ordering more every time they buy from the company. And understandably, during the year it increased it employee numbers from an average of 53 in the previous 12 months to 76 this time, despite the relocation of its fulfilment centre to a third-party logistics provider.