Growth predicted after fall in profits for Keighley pram maker Silver Cross

The manufacturer of prams, a favourite of the Royal Family for generations, saw sales fall by 14.5 per cent from £19.3 million to £16.5 million in the year to December 31, according to accounts filed at Companies House.

This caused profits to fall from around £1.4 million in 2012 to £430,286.

But Silver Cross said it continued to improve and expand its product range and had a pipeline of "exciting and innovative" developments planned for launch within three years.

In its strategic report, the company said its balance sheet remains robust with no bank borrowings and shareholders’ funds of £4.79 million (against £4.46 million in 2012).

It states: "The outlook is for further growth in the short to medium term despite a difficult 2013 trading period. The company remains well placed to face the challenges ahead."

The directors said Silver Cross would continue to focus on value, service and quality to preserve and increase demand against competition and in a UK economic situation which had affected consumers and demand.

The launch of the Wayfarer pram system and Simplicity car seat had proved popular with customers.

Silver Cross made significant investment in the Far East, including new offices and a flagship store in Shanghai, which opened in June. The company expects to achieve major international growth along with higher UK sales.

Dating back more than 140 years, and originally based at Guiseley, Silver Cross was bought out of administration by Alan Halsall, now chairman, in 2002. The business is based at Broughton Hall, near Skipton.

The company’s Heritage baby carriages have carried many royal babies. Silver Cross supplied a baby carriage to King George VI and Queen Elizabeth, the late Queen Mother and was also the Queen’s choice for the infant Prince Charles. The Duchess of Cambridge has also used a Silver Cross pushchair for Prince George.