Pacifica sets growth targets

Electrical repair company Pacifica is on course to increase turnover by £6m to £20m in the year to March and by a further £5m to following year.

The Chester-le-Street based company which operates throughout the UK is hoping to achieve the growth on the back of its acquisition in October of Yorkshire home delivery specialist Hi Way Express Home Delivery.

It would also look at further acquisitions.

Managing director Kevin Brown told bqbreakfast: “We are always on the look out. We are pretty much complete as we stand at the moment and we have our attention on other areas but if something interesting popped up we would take a look at it.’’

Pacifica’s accounts for the year ended March 31 2012 have been made available. They show an increase in turnover from £13.1m to a little over £14m but pre tax profits fell slightly from just under £400,000 to just under £373,000. The company attributes this to investments made in growth.

It believes it can grow despite the weakened state of the economy.

Brown said: “It works both ways for us. We do a lot of repairs of appliances under manufacturer’s warranty and normally the driver of large appliance sales is house moves. Obviously we have been affected by the housing market downturn.

"But on the other side of the business we do chargeable repairs and sell extended warranties and customers are more inclined to buy extended warranties and those who don’t change appliances are looking to repair them rather than fork out £400 for a  new one.’’

Pacifica employs 268 people throughout the UK.