Fitted kitchens and fitted wardrobes supplier Sigma 3 has reported a growth in sales as turnover reached £30m.
According to its latest filed accounts for the year ended 30 September 2022, total sales rose 6.2% to £30.1m from £28.3m in 2021. Pre-tax profit resulted at £1.8m, down from its £4m profit recorded the previous year.
Stated within its report, the company said sales growth was due to reduction in restrictions arising in response to the Covid-19 pandemic.
“Profitability however was impacted by the market wide unprecedented increases in the costs of materials, labour and distribution,” Sigma said. “We took the strategic decision to protect our customers from these price shocks in the short term which has impacted our gross profit margin (down from 48.2% to 42.1%).”
During the year, the business also acquired a second factory as well as investing in the additional site. “This significant investment has been undertaken to give us the capacity to meet demand from our current and prospective customers, and will be pivotal in developing our long-term future,” the company added.