Bed maker returns to profit despite lower sales

Bed manufacturer Relyon has reported a decline in sales but a return to profit.

According to its latest filed accounts for the year ended 30 September 2023, total sales fell 12.3% to £16.3m from £18.6m in 2022.

UK sales represented £15.9m of revenues and fell 11.6% from £18m, while EU sales stood at £299,000, down 44.7% from £541,000. Rest of the world sales stood at £62,000.

Pre-tax profit resulted at £692,000, improving from a loss of £453,000 recorded in the previous year.

Stated within its report, the company, which also operates the Dunlopillo brand, said: “We have repositioned products into extensive ranges focused on excellent value and quality which are now offered in a wide portfolio of retail stores within the UK, including a large number of independent stores, national groups, and online retailers.

“Most encouragingly, several major customer wins and the launch of new products during the year have resulted in good sales growth after the year end with the expectation that sales for the full year to 30 September 2024 will show a strong increase.

“The business operates from a large freehold site in Somerset. As the focus has improved and the cost base tightened, it has opened up the opportunity to attract tenants with long term leases into parts of the site that are no longer used for manufacturing. This has resulted in an investment property revaluation with a significant uplift in the freehold property value.”

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