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Furnishing fabric group grows profit by 67%

Furnishing fabrics supplier Ashley Wilde Group has reported a growth in sales as turnover surpassed £40m.

According to its latest filed accounts for the year ended 31 December 2021, total sales rose 43% to £44.9m from £31.4m in 2020.

UK sales increased 45% to £38m from £26.2m, while EU revenues rose 10.5% to £2.1m from £1.9m. Sales from outside the EU also grew by 48.3% to £4.6m from £3.1m.

Gross profit increased from £11.4m to £17.5m, while pre-tax profit resulted at £2.3m, up 67% from £1.4m the previous year.

Stated within its report, the company said that demand for its products rebounded strongly from the pandemic, driven by a ‘strong product range and buoyant demand’.

“To achieve this higher turnover, extra capacity was added with additional warehousing space and staffing,” the group said, continuing: “New product development continues to be a key element of our business. Further new ranges in development for launch during 2022 are expected to further add to our leadership in the home furnishing sector.”

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