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Whittle Paint themselves back into the Black
Whitlte Programmed Painting have painted themselves back into the black with their recently filed accounts.
The accounts record a trading profit of £3.5M following the previous year’s loss of £1.5M.
The accounts reflect significant financial restructuring following the acquisition by Hankinson Painting Group and also report on a forward order book of £11M.
Whittle Programmed Painting introduced to the UK the concept of long-term painting maintenance agreements with structured payments, to support the on-going presentation and management of a property. A well recognised concept overseas, the product is now being embraced by a UK audience and the Company has over 500 long term agreements under the Whittle brand. Typical customers include schools, shopping centres, hotels, offices and care homes.
Hankinson Group Chief Executive, Stephen Hankinson said “following the turbulence of the previous Australian owners exit Whittle is now established as part of the Hankinson Painting Group and since the acquisition we have serviced over 500 existing programmes. The Company is now in a very strong position to offer its innovative 5 year painting programmes with structures payments in the North West and beyond. The model remains an innovative and attractive way for a Company to keep its premises looking at their best and spread the financial costs over the life of the programme”.
The Hankinson Painting Group is one of the UK’s largest independent Painting Contractors and have just moved to a 8,000 sq ft facility at Cotton Place in Birkenhead creating space for an additional 5 Whittle staff.
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Hankinson Painting Group began in 1975 with Head Office in Birkenhead and subsidiary offices in West Bromwich & nationwide. Services include Commercial Painting & Decorating Blasting & Protective Coatings Hygienic Coatings & Specialist Decorations