office furniture stock

Office furniture supplier grows turnover; reduces stake in subsidiaries

Fitted office furniture supplier Frem Group has reported a growth in turnover and profit.

According to its latest filed accounts for the year ended 31 December 2021, total sales rose 9.7% to £10.9m from £9.9m in 2020. Pre-tax profit resulted at £880,000, up from £825,000 recorded in the previous year.

Stated within its report, the company said the growth in sales reflected the improvements in trading as the economy began to recover from Covid-related lockdowns.

During the year the group reduced its holding in subsidiary FG Library Products from 70% to 60% through a sale to an existing investor, as well as in Frem Group Screens from 76% to 26%, also through a sale to an existing investor.  

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