Furniture and bedding markets deliver strong growth at foam group

Flexible foam solutions provider The Vita Group has reported a growth in sales as turnover surpassed £160m.

According to its latest filed accounts for the year ended 31 December 2021, total sales rose 33.4% to £164.2m from £123m in 2020.

UK sales were up 36.9% to £128.9m from £94.1m, while EU sales increased 16.1% to £31.7m from £27.3m. Rest of the world revenues also rose 142% to £3.4m from £1.4m.

Gross profit increased from £28.8m to £33m, while pre-tax profit resulted at £13.8m, up from £10.2m recorded the previous year.

Stated within its report, the group said that trading was ‘relatively strong and consistent through the year’ with its Furniture and Bedding markets delivering ‘strong and deep order books’ from Covid-19 restriction pent up demand.

“Raw material supply and price challenges continued from Covid-19 legacy issues, but the business performed well to navigate around supply restrictions and pass material cost impact through to the market,” Vita added.

Within its technical markets, the Building & Construction and Industrial markets returned to normal levels post Covid, although the Automotive and Aviation markets continued to be depressed due to supply chain issues.

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