Tough retail market dents Ultimate’s profits

ULTIMATE Products has announced as 40% drop in earnings to £4.1m in the 12 months to July 31 (2010: £6.8m)  as sales fell slightly to £77.9m (£78.3m).

The Oldham-based company, which sources branded products for retailers, said that its results reflected the increasingly challenging nature of the UK retail market.

The company designs, sources and supplies around 5,000 products for major multiple retailers including Argos and Tesco.

Chief executive officer Simon Showman said: "Last year was a c... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...