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 2022, total sales rose 6% to £34.6m from £32.7m in 2021. EBITDA was at £500,000. Pre-tax losses resulted at £3m, down from £3.8m recorded in the previous year.
UK sales rose 21% to £15.7m from £13m, while EU revenues fell 12.2% to £15.5m from £17.7m. Outside the EU, sales increased 64% to £3.3m from £2m.
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 that the first half of the year was impacted by Covid, however the beginning of 2022 saw the start of its recovery with the later months of the year gathering momentum back to pre-pandemic levels. This has continued into the new financial year.
“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,” the company added.
“The group has bolstered the leadership team with new appointments during the year, strengthening the sales, marketing and operational leadership. This has enabled the group to focus on continuing to invest in many of the key European and Scandinavian markets. This greater alignment as a single organisation structure has delivered significant improvements in operational efficiency, product development and customer service.”