UK market continues to drive growth at vinyl flooring manufacturer

Vinyl flooring and tiles manufacturer Amtico has reported a growth in sales as turnover rose by almost £20m.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 17% to £120.1m from £102.9m in 2021.

Pre-tax profit resulted at £5.6m, down from £10m recorded the previous year.

Stated within its report, the company said that sales were particularly strong in the UK sector, while gross profit margins were impacted by the higher raw material, utility costs and inflation, which continued from the second half of 2021.

UK sales rose 19% to £89.8m from £75.4m, while EU sales increased 6.9% to £27.7m from £25.9m. Sales outside the EU also delivered an uptick, growing 56% to £2.5m from £1.6m.

“Gross profit margin fell by 3% despite increased selling prices, as not all of the inflationary cost impact was passed on to customers. An additional £3.8m warranty provision was put in place in relation to a specific discontinued Amtico product,” the business added.

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