Fit-out specialist grows sales as furniture arm increases

Specialist in fit-out, furniture, design and consultancy firm, Ultimate (Commercial Interiors), has reported a growth in sales.

According to its latest filed accounts for the year ended 31 March 2023, total sales rose 15% to £23.2m from £20.1m in 2022.

Pre-tax profit resulted at £271,000, down from £1.1m recorded in the previous year.

Stated within its report, the company said: “The company has experienced steady growth over the financial year. Gross profit margin fell slightly from 17.4% to 16.4%, reflecting the impact of some challenging projects which has led to the margin suffering.

“Overall net profit has fallen, however this includes an impairment of property of £470,000. Excluding the impairment, the trading profit remains at a healthy position of £742,000.

“The company has seen growth in furniture sales and has been awarded Platinum partnership with one of the main furniture suppliers which will open doors to larger blue chip furniture opportunities.”

In recent news, the company has been acquired in a Management Buyout (MBO) by six members of its senior team.

The MBO team comprises of long-standing Co-Owner Dan Platt who now takes up the role of CEO, along with Vici Plunkett as Finance Director, Steve Broadbent as Pre-Construction Director, Steve Cowley as Director, Bobby Murriero as Contracts Director and Paul Alexander as Sales and Brand Director.

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