Office furniture maker expects future sales growth

The UK division of Swiss office furniture manufacturer Vitra has reported a growth in sales as turnover climbed to £20m.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 9.4% to £19.9m from £18.2m in 2021. Pre-tax profit resulted at £11,000, down 98.1% from £584,000 recorded the previous year.

Stated within its report, the company said that sales growth was due to the improved market conditions, while operating profit decreased 0.2% of turnover, from 4.2% in 2021.

“Taking into account the exceptional items – costs relating to a new showroom, this is 2.8%. This reduction is largely due to the spend on the new showroom which opened in September 2022 and in return will likely increase sales revenue in 2023 and beyond.”

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment

MORE ARTICLES

Peter Harding, Managing Director at Fairway Furniture, shares a deeper insight into the ongoing refurbishment at their flagship Plymouth store....