Fabric manufacturer Mobus Fabrics has reported another strong year of turnover despite a slight decline as profit remained consistent.
According to its latest filed accounts for the year ended 30 September 2022, total sales fell 8.1% to £22m from £23.9m in 2021. Pre-tax profit resulted at £1.7m, unchanged from the previous year.
UK sales were down 7.1% to £18.2m from £19.6m, while EU revenues decreased 24% from £2.4m to £1.8m. Sales in Asia rose 6.2% to £1.7m from £1.6m, while in the USA, sales fell 32% to £183,000 from £272,000.
Stated within its report, the company said that turnover returned to pre-Covid levels, with the reduction towards the end of year anticipated due to a decline in market confidence following the rise in inflation and energy costs.
“Gross profit was maintained due to lower stock losses and improved efficiencies in the supply chain, most of which have materialised from the long-term investment in our UK operations,” Mobus said.
Back in November 2022, Mobus announced the incorporation of Clarkson Textiles Ltd into the group. Mobus and Clarkson’s have enjoyed a close association for almost 30 years, with a shared enthusiasm for innovative upholstery, technical textiles & Fire-Retardant finishing.
This relationship has been further emboldened in recent years with the two companies participating jointly on the development of halogen free eco-friendly, sustainable FR coatings.
“The acquisition of a leading UK FR finisher has enabled us to bring all our finishing within the group and ensure we remain as the market leaders well into the future. We have invested in 10 new collections, which offer greater variety in terms of style, appearance and price points,” Mobus added.