Furniture springs maker grows profit and sales

Manufacturer of furniture and bedding springs, Wade Springs, has reported another growth in turnover as well as rising profit.

According to its latest filed accounts for the year ended 2 October 2022, total sales rose 28% to £8.1m from £6.3m in 2021 – adding to its prior growth of 33% from £4.7m in 2020.

Pre-tax profit resulted at £627,000, up from £532,000 recorded against the previous year.

UK sales represented £7.9m of revenues, up from £6.1m, while overseas sales stood at £216,000, in line with 2021.

Stated within its report, the company said sales growth was attributed to higher volumes, as well as selling price increases to match raw material cost rises.

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