office furniture stock

Office furniture supplier grows sales and profit

Office furniture manufacturer Steelcase has reported a growth in turnover and profit.

According to its latest filed accounts for the year ended 28 February 2022, total sales rose 16.8% to £29.8m from £25.5m in 2021.

Gross profit increased from £5.2m to £6.1m, while pre-tax profit resulted at £1.9m, up from £1m recorded in the previous year.

Stated within its report, the company said that business will continue to improve steadily to pre-Covid levels over the mid-term and that it is well positioned to grow strongly as the market improves.

UK sales rose to £25.2m from £22.7m, while EU revenues were also up at £4.6m compared to £2.7m year-on-year.

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