Dutch sleep specialist Beter Bed has reported a growth in half year sales as profit remained in line with previous results.
According to its latest trading update ended 30 June 2022, sales rose 15.6% to €112.4m from €97.2m against the same period in 2021.
Gross profit increased 12.6% to €61.2m, while EBITDA resulted at €13.7m.
Beter Bed said that online sales represented 19.7% of total sales, while its New Business division recorded strong growth, up 13.5%. Within the period, the company signed an agreement with the French Adova Group to get the exclusive rights to sell the Simmons brand (Generation collection) in the Netherlands and the Flemish part of Belgium.
John Kruijssen, CEO of BBH, comments: “BBH again shows a half year of solid growth. Although the second quarter has been somewhat softer, mainly due to the strong comparison base, we have made good progress during the period and further grown our gross profit. We have proven that our proposition fits the needs of the customers and people increasingly recognise the importance of sleep for their health.
“With our strong execution capabilities, strong store network and continuously growing online presence, we remain confident that we can weather the current challenges driven by the war in Ukraine, inflation, recession, rising commodity prices and difficult labour market. We continue to adjust and strengthen our proposition and are making strong strategic progress.
“To further secure and streamline the supply of high-quality products for our customers, we aim to vertically integrate our value chain and I am happy to announce that we have signed a binding memorandum of understanding to form a joint venture with a long-standing strategic supplier.
“This partnership creates innovative power, purchasing advantage of raw materials, and more influence on margin among other things. DBC also made significant progress in the last quarters with existing and new partnerships and continued to show sales growth.
“We expect that the retail sector will be impacted by the low consumer spending due to the uncertainties in the market, however we are confident BBH is resilient in character and ideas and is on track to realise the 2025 targets.”