Boiling water tap brand Quooker UK has seen a significant increase in its financial turnover, which it has attributed to heightened consumer demand following its advertising efforts.
In its newly-released 2023 financial results, the company said it had experienced “robust growth” over the last year, reporting an 11% increase in turnover, for a total of £80.6M. This is a significant increase over its achieved turnover of £72.5M reported in its 2022 financial year.
It attributed this significant growth to a number of elements, but primarily to increased marketing efforts, the introduction of new product features, a growing network of dealers, and its dedicated staff base.
Profit also rose for Quooker UK, which earned gross profit of £20.3M. This is an increase of more than 12% over last year’s gross profit figure of £17.8M. Additionally, operating profit saw a marginal increase from £3.1M to £3.2M
Quooker UK also said it had expanded its sales, training and after-sales teams to strengthen its service offering and foster stronger relationships with its customers.
According to the company, this “customer-centric strategy” aligns with its commitment to deliver value and support to a diverse customer base. To evidence this, Quooker says that when looking at its sales data, no single customer group accounts for more than 8% of total sales.
Aside from financial success, Quooker UK was named as one of the 50 fastest growing companies in the North West of England, and also won the Outstanding Employer Award at the Employers Excellence Awards 2024. In addition, Quooker UK was also named one of the top 100 Best Places to Work by the Sunday Times for the second consecutive year.
Walter Peteri, Quooker’s global director, said that the UK company’s financial results “reflect commendable performance amidst a challenging operating environment”. He added: “The company’s focus on innovation, operational efficiency, and customer-centricity positions it well for continued growth and success in the future.”
Stephen Johnson, managing director of Quooker UK & Ireland, also commented: “Quooker has undergone a remarkable journey since its inception over 50 years ago. Despite facing challenging trading conditions in recent years, Quooker has achieved significant growth milestones since entering the UK market in 2006. This growth underscores the enduring demand for our products and fuels our commitment to delivering unparalleled quality and service.
“At Quooker we have a simple motto, to be better today than we were yesterday. This approach means we are continuously growing and pushing the boundaries within the industry. As we look ahead, we will remain committed to continuously developing and improving our products to reach our overall company objective; suppling every home in the UK & Ireland with a Quooker tap.”
