Contract furniture firm sees profit reach almost £2m

Contract furniture manufacturer Specialist Group has reported a slight growth in sales while profit significantly increased.

According to its latest filed accounts for the year ended 30 April 2023, total sales rose 2.7% to £33.4m from £32.5m in 2022.

Pre-tax profit resulted at £1.7m, up from £161,000 recorded in the previous year.

Stated within its report, the company said: “This year we delivered an increased turnover of £33.5m as a result of our continued efforts to build strong relationships with our key customers and the continuous delivery of high-quality products and services.

“With tight management of systems and processes and further investment in our team, including the appointment of Steven Scott as Group Manufacturing Director, we were pleased to achieve much improved margins this year.

“During the year, we continued to invest in further plant, machinery and vehicles to strengthen our logistics and manufacturing capabilities, investing a total of £1m. This investment further enhances our ability to meet tight deadlines and allows us to increase our overall manufacturing capacity.”

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