Interior and upholstery fabric specialist ILIV has reported a growth in sales and profit.
According to its latest filed accounts for the year ended 30 September 2021, total sales rose 31.4% to £13.9m from £10.6m in 2020.
UK sales for SMD Textiles, trading as ILIV, rose 34% to £11.8m from £8.8m, while EU sales remained consistent at £1m. Outside the EU, revenues rose 24.6% to £1m from £802,000.
Gross profit increased from £3.4m to £4.8m, while pre-tax profit resulted at £1m, up from £392,000 recorded the previous year.
Stated within its report, the company said that gross margin increased by 41.6% with the margin percentage rising to 34.5% from 32% due to improved rates of return on point of sale investment.
As for the wider group, SMD Holdings, which also includes its distribution arm SMD Home, reported sales growth of 19.6% to £24.3m from £20.3m over the same period, while pre-tax profit rose from £1.1m to £1.9m.