Stationery & Office Supplies Ltd (SOS) has acquired the assets of D&K’s Printing and Office Supplies, including 10 additional book manufacturing machines.
The purchase will diversify SOS’ product range by enabling the company to print books with working in, such as cash receipt books, invoice books, purchase order books and so on, SOS Managing Director Allan McDaniel outlined.
The printing press will also allow SOS to increase its capacity to manufacture notebooks under the SEEK brand.
McDaniel could not disclose the cost of the investment but noted that it would result in a 25 per cent increase in annual sales of SEEK products.
SOS acquired the manufacturing assets of Book Empire Limited, which produces SEEK notebooks, quire books, and writing pads in May 2018.
With the new machines, the staffing capacity is now 50 per cent larger in the SEEK department.
“We now have an additional 12 persons who can work on existing products as well. With them in the fold, we have that many more hands to bulk up on the items we are already making,” McDaniel said.
He added: “We have also taken on the customers of the printer and that will allow us to produce that much more.”
SOS recorded its highest-ever sales earned in a single month in March, registering 173 million in sales and beating a record it set in February.
It achieved the milestone in the first quarter ended March 31, 2022, which saw the company experience growth in all its business lines.
SOS saw a revenue increase in almost every category during the March quarter.
SEEK, the notebook brand saw an increase from $10.3 million to 18.5 million; chair sales rose by 35 per cent and document destruction services by 60 per cent. Its IMAGE & TORCH furniture lines increased by 50 per cent.
For the quarter ended March 21, 2022, revenue totalled $427.6 million, representing a growth of 36 per cent compared to the first quarter of 2021. Gross profit saw a slight decrease of five per cent.
The increased profitability stemmed from SOS’ strategic pre-planning and foresight to have the requisite inventory to supply the market to mitigate any interruptions due to irregular global shipping schedules.