leggett bedding

Furniture components supplier grows UK arm by over £10m

The UK division of US furniture and mattress components supplier Leggett & Platt has reported a surge in sales as turnover reached almost £60m.

According to its latest filed accounts for the year ended 31 December 2021, total sales rose 25.5% to £59m from £47m in 2021.

UK sales jumped 22.5% to £54.4m from £44.4m, while EU sales rose 83.9% to £4.6m from £2.5m.

Gross profit increased from £9.3m to £16.7m, while pre-tax profit resulted at £12.4m, up from £6.9m recorded the previous year.

Stated within its report, the company said that operating profit margin was 21.8% compared to 14.8% in 2020, which was mainly cost reductions following a major restructuring in the third quarter and increased selling prices due to ongoing increases in cost of materials. Looking ahead, the company will continue to strengthen and will embark on “new strategic horizons”.

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