The UK division of Belgian carpet manufacturer Associated Weavers International has reported a growth in sales while narrowing losses.
According to the latest filed accounts for AW Europe ended 31 December 2021, total sales rose 11% to £57.8m from £52m in 2020.
Gross profit increased from £4.8m to £5.7m, while pre-tax losses resulted at £370,000, down from its loss of £893,000 recorded the previous year.
Stated within its report, the company said that during the year it continued to build on its brands with some ‘strong additions’ to the Invictus brand, as well as a successful launch of its new Sedna brand.
“Covid-19 continued to have impacts given restrictions that were still in place, as restrictions lifted and consumers returned from furlough, we noticed increased sales. A number of price increases were implemented throughout the year as a result of increased costs relating to energy, raw materials and delivery costs. This has led to higher levels of turnover but reduced volumes,” the group said.
With its Luxury Vinyl Tiles division, which started trading back in 2019, sales increased 230% due to a stronger marketing campaign and increased presence at point of sale in the market.