Covid crisis wipes out profits for Inverness-based Carlton Bingo
Register for free to read more of the latest local news. It's easy and will only take a moment.
Numbers have dropped for Inverness-headquartered Carlton Bingo in its latest annual accounts – mainly due to the pandemic.
The firm’s turnover for the year to March 28, 2021 fell by more than £12 million. Its pre-tax profit also moved to a pre-tax loss.
A strategic report accompanying the accounts stated: “The group was prohibited from trading due to Covid lockdown for the majority of the period with some premises trading for as little as 44 days of the period.
“During the 44-day period from August 27 to October 9, 2020, when all premises traded, the group was able to generate a reasonable profit despite all the restrictions.
“This result was enabled via a principal focus on safe reopening to protect our staff and customers, and continued forensic management of all costs.
“Measures taken in advance of the reopening included staff training, provision of safety measures, signage and personal protective equipment, screen installations at point of sale and at customer seating areas, and the provision of additional payment entry devices at point of sale to promote cashless transactions where possible.”
Turnover dropped from £14,402,957 in 2019/20 to £2,059,039 in 2020/21. For the same period, pre-tax profit of £1,756,879 moved to a pre-tax loss of £576,401.
The firm regrettably closed its Dumbarton premises because “trading was not viable under continued restrictions”.
It added: “The group was forced into reducing staff numbers to ensure viability at the significantly lower level of trading and in advance of the anticipated end of furlough at October 31, 2020. Furlough was then extended at the last minute from November 1, 2020.”
A directors’ report stated: “All planned developments remain on hold while the company focuses on re-establishing the business post-lockdown.
“Following reopening, the company continues to focus on customer service while retaining a number of significant measures to ensure the continued safety of staff and customers against Covid.
“Similarly, all efforts continue to be made to protect cash flow during this phase of re-establishment.”
The average number of employees dropped from 292 in 2019/20 to 236 in 2020/21, while staff costs decreased from £5,348,688 to £4,035,822.
