Foam availability and rising costs impact upholstery maker

Upholstery manufacturer Lebus has reported another strong year of sales as turnover reached £45m, although margin reduced.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 5.8% to £45.8m from £43.3m in 2021, adding to its growth of 26.6% from £34.2m in 2020.

Pre-tax profit resulted at £804,000, down from £1.4m recorded the previous year. Margin reduced from 27.4% to 26.4%.

Stated within its report, the company said: “Despite a strong order book throughout the year, order intake and output in the last quarter of 2022 was impacted due to issues with the availability of foam in the UK, a key component in the manufacture of upholstery products.

“This coupled with the large cost increases experienced on the back of the war in Ukraine and the impact of raw material prices, resulting in a 1% drop in gross margin.”

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