Carpet maker grows sales to over £100m; expects future dip

Carpet manufacturer Abingdon Flooring has reported has reported a surge in sales as turnover surpassed £100m.

According to its latest filed accounts for the year ended 2 April 2022, total sales rose 36% to £111.9m from £82.5m in 2021. Pre-tax profit resulted at £7.8m, up from £5.9m recorded in the previous year.

UK sales rose to £111.5m from £73.6m, while EU revenues dropped from £8.6m to £380,000.

Stated within its report, the company said it delivered a “very strong performance” despite being impacted by two months of low trading due to national lockdowns associated with the pandemic.

Abingdon said the uptick was driven by market share gain from the bounce back from lockdown, continuous growth of its varied customer base and the boost from the home improvement sector.

Looking ahead, the business added: “The year ending 2023 will be a significantly more challenging environment with the wider headwinds consumers will face in the cost of living. This in turn will impact their purchasing power. Latest estimates show that turnover will be circa 10% below 2022 levels.”

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