Soft furnishings supplier sees sales fall

Soft furnishings supplier Riva Home has reported a decline in sales but expects revenues to bounce back following recent investments.

According to its latest filed accounts for the year ended 31 January 2023, total sales fell 15.3% to £19.8m from £23.4m in 2022.

Pre-tax profit resulted at £120,000, down from £2.4m recorded the previous year.

Stated within its report, Riva said: “The company continues to invest for growth with the acquisition of Voyage Maison in June 23.

“Voyage Masion is a premium brand that is widely recognised and offers a unique product proposition that appeals to a more affluent demographic which will help Riva Home diversify and grow into a new space.

“The acquisition expands Riva Homes UK manufacturing operation with the different capabilities Voyage have at their Glasgow factory, and helps bolster previous Staffordshire-based manufacturing acquisition made back in 2020.”

Save this article for later

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

Leave a Comment

MORE ARTICLES

Nicolle Hockin, Managing Director at Devonshire Living, shares an insight into how the last 12 months have been at the business, future plans and top...