Office furniture maker sees profit almost double

Office furniture manufacturer Elite has reported another growth in sales as turnover climbed towards £30m.

According to its latest filed accounts for the year ended 31 January 2023, total sales rose 28.9% to £26.3m from £20.4m in 2022 – adding to its prior year growth of 21.4% from £16.8m in 2021.

Pre-tax profit resulted at £7.1m, almost double from £3.9m recorded the previous year.

Stated within its report, Elite said UK sales were up 36.8% to £25.6m from £18.7m, while EU revenues also rose 12.5% to £304,000 from £270,000.

However, sales from outside the UK and EU fell to £365,000 from £1.4m year-on-year.

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