Circuit Laundry made £3.6 million in profit from students washing their smelly socks last year

Uni laundry provider, Circuit Laundry, made a huge £3.6 million in profit last year, according to its most recent company accounts published on the government website.

This is actually a 8.33 per cent decrease from 2021’s profit of £3.9 million.

The company, which provides washing and drying machines for thousands of university students across the UK, increased its total revenue by £13.7 million in a year. In 2022, it made a total revenue of over £40 million, increasing from £26.3 million in 2021.

Circuit Laundry’s two directors, Ben Gujral and Sarah Jane Norton received £871,000 in 2022 giving them each a massive salary of £435,000.

In the accounts for the previous year, the company had five directors, meaning the salary was significantly less at £171,800 each.

The price of a clothes wash and dry varies across university campuses but, on average, a single wash ranges from around £3.10-£4 and a dry from £1.70-£2.90.

This number has certainly increased over the years with the average price of a wash in 2017 at around £2.50. At the maximum price, just doing two weekly washes and dries would set you back around £13.80 per week.

The accounts showed that Circuit’s supply of washing and drying machine to university campuses is its “principal activity” generating the most profit. Previous accounts show its uni washing service makes up for approximately a quarter of the company’s revenue.

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In its strategic support and business strategy for the upcoming year, students will be delighted to hear the company said: “The strategy will look to continue to grow market share within the existing core business segments, leveraging our understanding of markets and customer segments to generate new revenue and grow the value of our existing relationship.

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“The group’s ambitious growth plans are underpinned by a robust strategic plan, its unique sales infrastructure and national service support capability.”

Many students, since the start of the 2020 pandemic and now cost of living crisis have opted to washing their clothes through other means such as in their sink or shower with some students even buying portable washing machines to avoid using Circuit Laundry.

To help students in the cost of living crisis, Newcastle University reduced the prices of Circuit Laundry at its Kensington Terrace accommodation where students can get a wash or a dry for £1.10.

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