UK market drives growth at office furniture supplier

Specialist office furniture manufacturer SBFI has reported a growth in sales as turnover climbed towards £20m.

According to its latest filed accounts for the year ended 30 November 2022, total sales rose 92% to £19.5m from £10.1m in 2021.

Pre-tax profit resulted at £6.2m, up from £1.3m recorded the previous year. Gross margin increased from 43% to 48%.

Stated within its report, the company said growth was due to increased activity across all regions at good margins. UK sales rose 210% to £9.3m from £3m, while EU sales rose 14.9% to £2.3m from £2m. Rest of the world revenues also increased 55.9% to £7.8m from £5m.

The company continued to invest in the design and development of its products and desking technologies, while adding that 2023 is “looking promising in terms of orders secured in both the UK and APAC regions”.

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