Contract furniture firm aims to grow sales beyond £40m

Contract furniture manufacturer Specialist Group has reported a growth in sales as turnover jumped by over £10m.

According to its latest filed accounts for the year ended 30 April 2022, total sales rose 46% to £32.5m from £22.2m in 2021.

Gross profit increased from £4.3m to £4.6m, while pre-tax profit resulted at £0.1m, down from £3m recorded in the previous year.

Stated within its report, the company said that sales increased as a result of its “continued efforts to build strong relationships with key customers and the continued delivery of products and services.”

The business invested a further £0.4m within its logistics and manufacturing operations, which has further enhanced its ability to meet tight deadlines and allowing it to increase manufacturing capacity.

Looking ahead, and following the investments made, the business anticipates turnover will increase to £36m, £17m of which has already been delivered, while sales for the year ended April 2024 are forecast to reach £40m.

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment