Fitted furniture manufacturer sees sales surge past £300m

Manufacturer of fitted kitchen and fitted bedroom furniture, Symphony Group, has reported a growth in turnover as sales soared past £300m.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 22.9% to £341.9m from £278.1m in 2021.

EBITDA stood at £23.7m, up from £17.1m, while pre-tax profit resulted at £20.7m, up 45.7% compared to its profit of £14.2m recorded the previous year.

Stated within its report, the company said: “We have continued to focus on delivering excellent customer service and despite challenging market conditions, this has led to an improvement in results.”

Symphony added that underlying cash flow fell during the period due to significant capital investment in the business, ending the year with a cash balance of £13.1m.

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