Newport based office furniture manufacturer Bisley has reported a growth in sales as turnover climbed towards £80m.

According to its latest filed accounts for the year ended 31 July 2022, total sales rose 15.9% to £78.1m from £67.3m in 2021. Pre-tax profit resulted at £1.9m, up from £625,000 recorded the previous year.

UK sales rose 4.2% to £30.3m from £29m, while EU revenues increased 12% to £26.9m from £24m. Rest of the world sales also delivered an uptick, rising 45.4% to £20.8m from £14.3m.

Stated within its report, the company said: “Operating profits rose to £2.8m (£0.3m in 2021) as a result of continued focus on margins and further drives to reduce overheads.

“Profits before tax of £1.9m were impacted by £0.9m of fair value losses on foreign exchange liabilities as a result of the steep fall in sterling against the US dollar in 2022.”