Decline in exports dent sales at office furniture manufacturer

Newport based office furniture manufacturer Bisley has reported a reduction in sales as turnover dipped by around £10m due to a decline in exports.

According to its latest filed accounts for the year ended 31 July 2023, total sales fell 12.8% to £68.1m from £78.1m in 2022.

Pre-tax losses resulted at £6.6m, down from a profit of £1.9m recorded the previous year. This did include an exceptional energy contract cost of £4.5m as well as a £0.4m employment ownership trust bonus commitment to company staff.

UK sales rose 1.5% to £30.5m from £30.3m, while EU revenues decreased 1% to £23.6m from £26.9m. Rest of the world sales also declined 48.7% to £13.8m from £20.8m.

Stated within its report, the company said: “Turnover in the year declined because of the impact of the Ukraine war impacting on the group’s overseas markets (International sales made up 5.9% of total group sales).”

Bisley has recently announced the opening of a new showroom in Dublin, its second Irish location.

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