Bob Rudd Hits Post-Covid Jackpot

One of the leading lights of the North East entertainment sector has smashed its pre-pandemic targets after bouncing back from a six-figure loss.

Bob Rudd and Clear Cool part of the industry-leading Rudd Group stable reported pre-tax profits of £716,135 for 2022. A remarkable turnaround from 2021’s pre-tax loss of £181,894 reflected a business-wide pivot towards new technology and brand expansion. And Newcastle-based Bob Rudd, which specialises in providing gaming and amusement equipment to the licensed trade, is set for further success in 2023.

“We’re committed to sustainable growth and want to remain at the forefront of our industry,” said Nick Rudd, managing director, Bob Rudd. “It’s obvious how much of an impact Covid had on every aspect of the business but we didn’t allow a unique situation to stop us in our tracks. It’s taken a lot of hard work from everyone in The Rudd Group team but we’re really pleased with the latest financial results.”

2022 saw Bob Rudd invest £2m in a digital makeover designed to revolutionise the UK’s leisure industry. The Newcastle-headquartered firm operates a 123-vehicle fleet out of six depots nationwide and worked closely with staff across the UK to expand its pre-Covid imprint.

New contracts, greater efficiency and the success of the firm’s investment in cutting-edge technology boosted gross profits by more than £4.2m in just 12 months. And Bob Rudd and Clear Cool emerged from a challenging 2022 having eclipsed 2019’s pre-Covid turnover figure of £8.1m.

“Covid all but decimated our industry overnight,” added Nick, who, alongside sister Charlotte, took over the family business in 2012. “Strict lockdowns meant everything ground to a halt.

“However, as a family company that has operated out of the North East for more than 30 years we knew we couldn’t pass our financial struggles on to loyal customers who were in the same boat.

“We used the Covid downtime to assess internal costs and processes and make a watertight plan for when venues reopened. Right across the country, all team members knew their role and the part they had to play in the bounceback. Priorities included investing in more connected digital product and diversification of some of our product lines and markets.”

Bob Rudd specialises in the provision and servicing of digital and analogue fruit machines, pool tables, quiz machines and jukeboxes and sits within The Rudd Group. The group includes business to business division Clear Cool (catering and ware washing equipment) and employs 145 staff across the UK with 41 per cent of its employees based in Newcastle.

The confidence gained from 2022’s robust end-of-year accounts means Nick and senior colleagues already have one eye on further growth and identifying additional economies of scale in 2023.

“We’ve just added two Business Analyst positions to the team,” he added. ‘We’ll be using this active intelligence to ensure the company is as efficient as possible and to identify new opportunities in the marketplace and maximise our customers’ income in 2023.“

By Mark Adair – Correspondent, Bdaily