Motion furniture manufacturer Celebrity has reported a growth in sales and profit.
According to its latest filed accounts for the year ended 2 October 2022, total sales rose 52% to £14.9m from £9.8m in 2021.
Gross profit increased from £1.7m to £3.2m, while pre-tax profit resulted at £493,000, up from £329,000 recorded in the previous year.
Stated within its report, the company said that demand for motion furniture was “high throughout the year” and that it maintained “strong relationships with retailers and suppliers” and that it continued to “thrive” despite the continued impact of Covid and other supply challenges.
“We have been very proactive to look closely at the business and how we can help and support our workforce in these challenging times,” Celebrity said. “Recruitment and staff training have been a major focus with us introducing various incentives and benefits for our workforce to retain their skills that we have within the business.
“The company has encountered a roller coaster of trading conditions during the period but have still managed to turn the business around and this is reflected in the company’s profit.”
During the period, Celebrity also reduced its Company Voluntary Agreement (CVA) debt from £688,000 to £268,000 with the remaining balance to be cleared during the next financial year.
Back in 2020, the company entered into a CVA with its creditors to secure the future of the business after its parent company JDP Furniture Group entered administration a few months prior. The administration ended during August 2022, moving into its own CVA agreement to rescue the business as a going concern. It’s other company H&F Upholstery was dissolved during June last year.