Office furniture group continues Covid recovery; rebrands two divisions

Office furniture group Ocee International has reported a growth in turnover as well as narrowing losses.

According to its latest filed accounts for the year ended 30 June 2023, total sales rose 6% to £36.8m from £34.6m in 2022. EBITDA was at £1.7m. Pre-tax losses resulted at £1.8m, down from £3m recorded in the previous year.

UK sales rose 6% to £16.7m from £15.7m, while EU revenues increased 19% to £18.4m from £15.5m. Outside the EU, sales decreased to £1.6m from £3.3m.

Ocee International is the parent company of Ocee Design, Four Design ApS and Race Furniture, and specialises in the manufacture of furniture for offices, universities, theatres and airports.

Stated within its report, the company said: “The closure of entertainment venues during the pandemic had a significant impact on Race Furniture. This sector took much longer to recover and the beginning of the financial year reflected this.

“In February 2023, Race acquired the rights to the assets of Audise, providing a wider accessible market and increasing the breadth of its product portfolio, including entering the retractable seating market. We returned to profitability by the end of the financial year and this has continued into the 2023/24 year. The group remains supportive of Race Furniture and is committed to its long term success.

“Both Ocee Design and Four Design have enjoyed great progress in their respective markets. We continue to align the two businesses into one family, with one shared management team, product portfolio and values. In May 2023, Ocee Design and Four Design rebranded to be collectively known as ‘Ocee & Four Design’. There is no change to the legal entities – commercially this allows us to combine the two brands to create one exciting, unique business.”

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