Folding guest beds, sofas, sofa beds and mattresses manufacturer, Jay-Be, has reported another growth in turnover.
According to its latest filed accounts for the year ended 21 August 2022, total sales rose 21% to £20m from £16.5m in 2021. Pre-tax losses resulted at £107,000, down from its profit of £59,000 recorded the previous year.
UK sales rose 21.6% to £19.1m from £15.7m, while exports fell 8% to £805,000 from £882,000.
Stated within its report, the company said it had achieved a second year in a row of significant growth within both major sales channels, with contract sales up 31% and Global Retail Sales delivering growth of 16%.
“The company’s contract division growth reflected the renewed opportunity within the UK staycation sector, both for new and existing hospitality partners,” Jay-Be said. “Retail growth was achieved across various global territories, with the exception of the USA, which was purposely de-prioritised for the year.
“During this time, the business focussed on increasing capacity for the future while servicing local market growth. The business will be increasing focus on the USA and Europe growth during 2023 onwards.”
During the year, new sustainable mattress products were launched with major UK retail partners and also exported overseas for the first time.
“The growth and success of FY2022 was achieved whilst still having to overcome significant challenges within the supply chain,” the company said. “Raw material prices rose further and some capacity restrictions from suppliers hampered production volumes and ability to fully maximise all sales opportunities.”
The company also opened its new Head Office, which now features a modern showroom and conference facilities, which have proved “hugely beneficial” for meetings, staff training and hosting industry partners.
Furthermore, the business was certified as Zero to Landfill and achieved globally recognised standards as part of its sustainability objectives.