Industry wide shortages hinder growth at foam supplier

Manufacturer of polyurethane foams, Carpenter, has reported a growth in sales as turnover surpassed £125m.

According to the latest filed accounts ended 31 December 2022, total sales rose 2.6% to £127.7m from £124.6m in 2021.

Pre-tax profit resulted at £17.3m, slightly down from £17.4m recorded the previous year.

Stated within its report, the company said UK sales were up 1.3% to £97.4m from £96.1m, while EU revenues rose 7.4% to £21.6m from £20.1m. Outside the EU, sales grew 3.6% to £8.6m from £8.3m.

Carpenter said: “The results for the year were on a par with those achieved 2021 but belie the difficulties experienced during the year. Raw material supplies during Q3 and into Q4 were interrupted due to supplier production issues and feedstock shortages resulting in an industry wide problem of allocated supply and increased cost, which unfortunately but inevitably impacted the company’s own customers.”

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