Online bed retailer profits hit by rising transport costs

Online beds and mattresses retailer has reported a decline in sales as turnover dipped under £40m.

According to its latest filed accounts for the year ended 30 September 2021, total sales fell 14% to £38m from £44.4m in 2020.

Gross profit remained consistent at £14.9m, while pre-tax profit resulted at £152,000, down from £2m recorded the previous year.

Stated within its report, the company said that profitability was impacted by transportation costs, which increased by 1200% through the year, as well as increases in raw material costs.

The business said in the year ahead it will focus on improving profitability.

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