Carpet maker experiences significant demand as sales grow

Carpet manufacturer Greenwood & Coope, trading as Cormar Carpets, has reported a growth in turnover as sales increased by over £30m.

According to its latest filed accounts for the year ended 30 September 2021, total sales rose 30% to £144.9m from £111.5m in 2020.

UK sales were up 30% to £140.9m from £107.9m, while EU sales rose slightly to £3.8m from £3.4m. Outside the EU, revenues increased from £92,000 to £154,000.

Gross profit increased from £37m to £44.7m, while pre-tax profit resulted at £11.7m, up 5.4% compared to its profit of £11.1m recorded the previous year.

Stated within its report, the company said it experienced a significant level of demand as UK consumers opted to invest in their homes as holiday options were reduced.

“High demand for our products has led to a year-on-year increase in sales and profit and a further strengthening of the balance sheet. This confirms the robustness of the business, its service and product proposition and the strong experience and capability of its management team and workforce,” the company added.

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