Burnley, UK: Temperature-controlled van converter CoolKit reports profits and revenue with turnover of £17.6m in the year ending June 2022, up 54% on the previous year. Profit before tax was up 298% to a record £1.08m.
The results follow a year of growth for the business and a commitment to new light commercial vehicle stock, which stands at some 600 units on order – a fourfold increase on 2020, CoolKit says. CoolKit plans to increase its market share in the UK and overseas with orders from the home shopping delivery sector.
In February 2020 CoolKit received a £300,000 financial boost from Rosebud Finance. Rosebud is a business loans provider funded by Lancashire County Developments, a subsidiary company of Lancashire County Council, and provide loans from £10,000 to £300,000 for businesses in Lancashire.
Rupert Gatty, chief executive officer, CoolKit, said: “The support provided by Jonathan and the Rosebud team has undoubtedly been a key factor in helping the business to grow at such pace, and I look forward to continuing this relationship as we continue to innovate and grow as a business.”
Jonathan Nelson, fund manager, Rosebud, said: “Since initially supporting Rupert and the CoolKit team at the beginning of 2020, their ambition and drive have been evident, and these latest results are testament to that. The continued expansion of the team and its ever-growing customer base perfectly demonstrate the immense business talent we have across Lancashire. The next few years promise to be just as strong for the business and I wish them every success.”
