comfy quilts

Higher costs drive down margin at bedding manufacturer

Bedding products manufacturer Comfy Quilts has reported a growth in sales as turnover edged closer to £90m.

According to its latest filed accounts for the year ended 31 January 2022, total sales rose 1.6% to £86.9m from £85.5m in 2021.

UK sales delivered modest growth of 0.5% to £85.7m from £85.2m, while EU sales jumped 211% to £1.1m from £353,000 year-on-year. Sales outside the EU registered £8,000.

Gross profit remained consistent at £20.1m, while pre-tax profit resulted at £2.4m, slightly down from £4.4m recorded the previous year.

Stated within its report, the company said that the increase in demand for raw materials coupled with a shortage of logisitics capacity, both local and global, has resulted in significantly increased costs.

“The growth in sales has therefore not led to a growth in margin, but this was anticipated and we have taken all measures necessary to minimise the impact,” the group added.

Comfy Quilts licensee several brands in UK bedding industry including Silentnight and Sealy, as well as its own brands including nanu, Snug and Soundasleep.

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