Flooring firm grows sales to over £180m

Commercial floorcoverings manufacturer Polyflor has reported a growth in sales as turnover surpassed £180m.

According to its latest filed accounts for the year ended 30 June 2023, total sales rose 5.4% to £181.7m from £172.3m in 2022.

Pre-tax profit resulted at £35.4m, up from £33.1m recorded in the previous year.

UK sales rose 6.1% to £117.3m from £110.5m, while EU and Scandinavian revenues rose 2.1% to £28.2m from £27.6m. Rest of the world sales increased 5.2% to £36m from £34.2m.

Polyflor, part of the James Halstead Plc group, said: “Undoubtedly, it was overall a commendable year for the business. Profits were ahead of the prior year despite the challenges of increased input cost, massive energy cost increases and industrial action by part of the workforce in Radcliffe.

“Export demand was restricted for the early part of the year by availability of timely shipping though this was greatly improved by the year end. It was also the case that the ‘bottlenecks’ of international transport delayed and restricted supplies to the overseas subsidiaries, and some opportunities for greater sales were lost.

“Our progress in global markets has been hampered by many factors however these are now behind us. Though we have inflationary issues and in many markets spending constraints, we feel confident of the company’s progress in the global markets. We look ahead with confidence across the business.”

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