Furnishings brand delivers strong growth despite early setback

Furnishings brand Neptune has reported a surge in sales as turnover increased by £16m.

According to its latest filed accounts for the year ended 30 September 2021, total sales rose 31.5% to £65m from £49.4m in 2020.

UK sales jumped 31.3% to £55.7m from £42.4m, while outside the UK revenues also spiked 33.3% to £9.2m compared to £6.9m.

Gross profit increased to £29.1m from £21.8m, while pre-tax profit resulted at £1m compared to its loss of £238,000 recorded the previous year.

Stated within its report, the company said: “After an initial fall in orders at the outset of the pandemic and the subsequent lockdowns, the company has experienced significant growth in orders as customers have spent more time at home and showed a desire to invest in it.”

During the year, the company said it explored new ways to deliver eco-friendly packaging, as well as investing in a new IT platform to ‘blend seamlessly’ online and physical retail.

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