Fitted furniture manufacturer maintains strong sales growth

Kitchens, bedrooms and home study fitted furniture manufacturer Roundel has reported another growth in sales as turnover surpassed £30m.

According to its latest filed accounts for the year ended 31 January 2023, total sales rose 33.3% to £36.6m from £27.4m in 2022, adding to its growth of 32.8% from £20.6m in 2021.

Pre-tax profit resulted at £260,000, significantly improving from £6,700 recorded the previous year.

Stated within its report, the company said: “The growth is generated by a combination of strengthening relationships with longstanding key customers, as well as diversifying and introducing new customers.

“Gross profit margin reduced to 25.6% (26.5%). This was caused by strategic growth in appliance sales, which tend to yield lower profit margins compared to the core furniture business. Raw material costs also continue to run proportionately higher than usual although settlement is envisaged through 2023.”

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