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Machinery and components supplier grows turnover

Specialist woodworking equipment and furniture components supplier NEY has reported a growth in sales.

According to its latest filed accounts for the year ended 31 December 2021, total sales rose 15.4% to £14.2m from £12.3m in 2020.

Gross profit increased from £2.5m to £3m, while pre-tax profit resulted at £68,000, down from £137,000 recorded the previous year.

Stated within its report, the company said that alongside turnover growth, margins held up in percentage terms in spite of significant cost pressures.

“Management have continued to maintain discipline in controlling overheads, although the company has suffered some inevitable exposure to increased costs during 2021,” the business added.

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