Spectrum Brands sales up 30 per cent
The company behind the Russell Hobbs range of kettles and toasters is expecting sales to “pop-up” to £150m this financial year as consumers turn to trusted brands offering value for money.
Spectrum Brands managing director Tim Wright said the current economic gloom has already helped the business to achieve sales of £130m in the 12 months to October 2011, up from £100m a year earlier.
He said that the company – a division of New York-listed Spectrum Brands – had achieved operating profits of around 15 per cent of turnover, or £19.5m, in the same period.
Previously known as Russell Hobbs, Salton and Pifco, the company, which is based in Failsworth, Greater Manchester, began trading as Spectrum Brands in the UK in 2010, when Mr Wright was promoted from sales and marketing director to managing director.
It designs, markets, tests and sells kitchen appliances and personal care products under a range of big-name brands, including Russell Hobbs, the George Foreman Health Grill and Remington shavers.
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