Pacifica has reported that it has delivered a strong trading performance in its most recent financial results.
The independent MDA repairs and warranties provider said it has seen growth in volume and revenues, highlighting “good progress” against its objectives in the appliance repair and extended warranties sectors.
In the 12 months ending 31 March 2024, Pacifica generated revenues of £36.1m, an increase of £2.6m from the previous year. Gross profit rose by £1.6m to 11.7m, while its EBITDA was £1,107,000, an increase of 22 per cent on the previous financial year.
During the year the company won several strategic contracts, including Glen Dimplex Home Appliances (GDHA) and the TUPE transfer of GDHA’s entire aftersales service department, including its cohort of vastly experienced field engineers. These additional engineers increases Pacifica’s field-based workforce to around 300 directly controlled engineers.
More recently, Pacifica also signed a contract with Midea.
Kevin Brown, Pacifica CEO
As well as that, it continues its relationships with the likes of Electrolux, Sony, LG, Hisense, Vestel, Howdens (Lamona) and Argos. The company has added to this portfolio by supporting new clients, including GDHA, switch from traditional in-house service delivery to Pacifica’s flexible delivery model.
In addition, Pacifica’s warranty division also secured new contracts to provide extended warranty products and support – which contributed to the company’s 2024 growth. Earlier this year, it acquired Retracare, the extended warranty arm of RETRA, after the trade association became part of Bira back in April.
Kevin Brown, CEO of Pacifica, said: “I am pleased to report that we remain in a strong financial position and have continued to make good progress against our medium-term objectives.
“This has been possible in the main by a combination of continued investment, organic growth – including the training of engineers utilising Pacifica’s in-house training facility, and increased focus on IT development to improve the customer journey and further improve efficiencies.
“Investments in the year ending 31 March have resulted in Pacifica experiencing a strong first half of our current financial year. The growth we are delivering is part of a continuing forward trajectory, which is enabling us to not only increase our presence in the MDA market, but define how services are delivered in the market, through technology-led infrastructure married with the capabilities and dedication of a highly skilled workforce.”
