ALEXANDRIA, Va. — Typical members of the Textile Rental Services Association (TRSA) continued in 2009 their year-after-year streak of outperforming the economy, the association’s 2010 Industry Performance Report indicates.
Compared with the nation’s real GDP decline of 2.6%, a company with a classic TRSA business profile (dominated by linen and healthcare work) lost only 1.8% in revenue, TRSA reports. And profits increased—from 4.8% of sales to 5.9%.
“We anticipated that the industry’s revenues would decline slightly,” says Joseph Ricci, TRSA president. “Although these had grown during previous recessions, this time around, the economic decline in the industry’s customer base was just too severe to sustain our members’ expansion.”
Ricci says the report reflects TRSA members’ commitment to make tough choices and investments needed to prepare themselves to remain profitable in a down economy.
The report enables companies to compare their financial results with operations similar to theirs in lines of business, number of locations and sales volume.
TRSA member companies submitted balance sheets, income statements, and other data to create the Industry Performance Report (each member received a customized, individual Financial Performance Report [FPR] at no charge).
For each classification, the report offers an income statement, balance sheet, strategic profit model ratios (to determine return on investment), financial ratios, production profile, wage and cost salary summary, and employee productivity ratios.
The TRSA Industry Performance Report is available from the TRSA Book Store (www.trsa.org/store; search for publication no. 72048), or by calling 703-519-0029.