Hisense UK, the Leeds-based division of the Chinese electronics and appliances group, reported a £73.4 million increase in turnover for 2024, reaching £373.8 million compared to £300.4 million the previous year. Pre-tax profits also rose to £3.7 million, up from £2.8 million.
Despite the strong top-line performance, the company faced margin pressure due to a nearly 29% rise in administrative expenses, primarily driven by office relocation costs, and a 33% increase in distribution expenses. This resulted in a modest profit margin of 1.01%, slightly ahead of 2023’s 0.94%.
Hisense UK reduced its outstanding debtor balance by more than 30% to £49.8 million by offering discounts to accelerate customer payments before year-end.
Amid ongoing economic uncertainty in the UK, the company maintains a cautious yet strategic approach to growth. It aims to adapt to evolving retail dynamics and enhance brand visibility across local and international markets.
