Flooring business grows UK and AUS sales; EU and US down

Flooring and wall cladding solutions provider Altro has reported a growth in sales but a reduction in profit.

According to its latest filed accounts for the year ended 31 December 2021, total sales rose 6.3% to £109.9m from £103.4m in 2020.

UK sales rose 14.8% to £74.1m from £64.5m, while EU sales declined to £13.7m from £15m. US sales dipped slightly to £12.3m from £13.7m, while Australia sales rose 54% to £6.8m from £4.4m. Rest of the world sales were down to £2.8m from £5.5m.

Gross profit reduced from £51.3m to £49.3m, while pre-tax profit resulted at £6.7m, down from £10.8m year-on-year.

Stated within its report, the company said that operating profits decreased due to the unprecedented raw material price increases, but was pleased with overall growth, particularly in its core UK market.

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