Sales grow to almost £80m at office furniture manufacturer

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.”

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment

MORE ARTICLES

Peter Harding, Managing Director at Fairway Furniture, shares a deeper insight into the ongoing refurbishment at their flagship Plymouth store....