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.”