Pacifica, the leading independent provider of Domestic Appliance Repairs and Extended Warranties in the Major Domestic Appliance (MDA) market, has delivered an impressive trading performance in its latest financial results.
The North East-based business reported significant growth across volume, revenues, and EBITDA, underscoring ‘good progress’ against its objectives in the appliance repair and extended warranties sectors.
For the 12 months ending 31st March 2024, Pacifica achieved revenues of £36.1m—an increase of £2.6m on the previous year’s £34.5m. Gross profit rose by £1.6m to £11.7m, with the gross margin percentage improving by three points to 32.5%. EBITDA also saw a 22% increase to £1,107,000.
This strong performance has been driven by growth in higher-margin areas of the business, alongside enhanced operational efficiencies. Pacifica currently undertakes over 400,000 appliance repairs annually.
The company has secured several strategic contracts over the year, including a key partnership with Glen Dimplex Home Appliances (GDHA). This contract, which commenced in April 2024 and will appear in Pacifica’s 2025 accounts, involved the TUPE transfer of GDHA’s entire aftersales service team, including its highly experienced field engineers. These additions bring Pacifica’s field-based workforce to around 300 engineers, strengthening its UK presence.
Pacifica has maintained robust partnerships with blue-chip clients such as Electrolux, Sony, Hisense, Vestel, Howdens (Lamona), LG, Argos, and Shop Direct. The company also expanded its portfolio, supporting new clients like Glen Dimplex as they transitioned from in-house service delivery to Pacifica’s flexible model.
The company’s warranty division has played a crucial role in this growth, securing new contracts for extended warranty products and acquiring Retracare, the warranty arm of RETRA, the UK’s trade association for independent electrical retailers.
Further strengthening its leadership, Pacifica appointed Martin Bennett as non-executive chairman. Formerly CEO of Homeserve for over 14 years, Martin’s expertise will guide the company’s significant growth plans, particularly in its Appliance Warranty division and service expansion into new sectors.
Martin’s appointment has already delivered tangible results, with Pacifica securing two major contracts in the current 2024/25 financial year, including a deal with Midea—one of the world’s largest domestic appliance manufacturers by volume.
Kevin Brown, CEO of Pacifica, said:
“I am pleased to report that we remain in a strong financial position and have continued to make good progress against our medium-term objectives.
“This has been possible in the main by a combination of continued investment, organic growth, including the training of engineers utilising Pacifica’s in-house training facility, and increased focus on IT development to improve the customer journey and further improve efficiencies.
“We have secured a number of strategically important contracts across both appliance repair and warranty specialities, which have bolstered our strong relationships with blue-chip companies in the market.
“Investments in the year ending March 31st have resulted in Pacifica experiencing a strong first half of our current financial year. The growth we are delivering is part of a continuing forward trajectory, which is enabling us to not only increase our presence in the MDA market but define how services are delivered in the market, through technology-led infrastructure married with the capabilities and dedication of a highly skilled workforce.”
Photo: Kevin Brown, CEO, Pacifica