Flooring group climbing back towards pre-pandemic levels

Flooring group Airea plc has reported a recovery in home sales, although top line figures are not at pre-pandemic levels yet.

According to its results for the year ended 31st December 2021, revenue for the year was above prior year at £15.9m (2020: £14.6m) with home sales recovering. However, the COVID-19 pandemic continued to reduce its access to export markets and constrained growth.

Pre-tax profit resulted at £1.2m, up from £454,000 the previous year.

The company said: “The board is pleased with the group’s resilience in the face of the challenges of the COVID-19 pandemic and its impact on all aspects of our business. We continue to focus on improving our operational and supply chain processes which are imperative when facing the uncertainty regarding labour and raw material availability and the unprecedented increases in raw material prices.”

The company also paid tribute to late CEO, Neil Rylance, who sadly passed away in March 2022.

“It is impossible to review 2021 without referring to the untimely death of Neil Rylance in March 2022. Neil had been the CEO of Airea plc for 13 years. Those shareholders who have supported the company during his tenure will understand, first hand, the impact of Neil’s contribution to this Company’s success. Without his focus, tenacity, and deep understanding of the sector we would not be the profitable business we are today.

“It is easy to forget the changes that Airea has undergone, when we see the stable, profitable business we have today. Neil led the programme of change and, had the patience, foresight, and dogged determination, to follow these challenges to a successful conclusion. He did this with a Liverpudlian wit, a no-nonsense approach and an unswerving self-belief. Neil led from the front and was able to attract like-minded executives whom he mentored to assist in shouldering the burden of change for the better. He has left us with a platform for growth. He has also left a management team who are capable of delivering on that promise. In Neil’s memory we must do so, because Neil is a man who is not easy to forget.”

The search for Neil’s successor has begun.

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