Pacific Green makes profit despite pandemic
March 19, 2021 12:45 pm
Pacific Green Industries Limited says its financial results for 2020 are better than expected.
Despite the challenging environment due to COVID-19, Pacific Green achieved over $2.8m in sales and made a profit of $291,183.
Company Chair, Samuel Ram says recording profit in such circumstances is a significant achievement.
At the end of 2020, the furniture manufacturer had healthy cash flows and no borrowings.
Ram says they are optimistic about the future, but it is prudent to prepare for 2021 being as equally difficult as 2020.
He adds while the immediate pandemic crisis appears to be subsiding, there may be strong aftereffects as economies around the world try to restart.
The chair adds that whether the bounce back is relatively fast, or takes time, will directly affect the business from the supply chain through to how customers spend their money.