Leadership reform drives upholstery group performance

Upholstery group TCM Living has reported a strong first quarter as revenues jump 30% year-on-year.

According to its latest trading update, TCM Corporation, the parent company of TCM Living, which houses UK brands Alstons, Ashley Manor, Alexander & James and AMX Designs, said that its British division saw sales reach £40.78m, an uptick of 30% from £31.40m against the same period last year.

On a quarter-to-quarter comparison, sales rose 26%.

Gross profit during Q1 increased 36% to £6.9m, while EBITDA resulted at £3.6m, up 183% year-on-year.

With the brands, AMX Designs reported sales of £11.91, Alstons at £11.86m, Ashley Manor at £11.8m and Alexander & James at £6.94m.

Commenting within its report, TCM Living said that its leadership reform through enhancing collaboration, idea sharing, systematic process and good governance was the main driver in its ‘raised performance’.

The group continues to improve production efficiency, improve production analysis and redesign its production processes and procurement.

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