Upholstery manufacturer posts another strong year as profit surpasses £2m

Bespoke upholstered furniture manufacturer Ashwood Designs has reported another growth in turnover and profit.

According to its latest filed accounts for the year ended 30 April 2023, total sales rose 19.2% to £30.3m from £25.4m in 2022, further adding to its growth of 27.5% from £19.9m in 2021.

Pre-tax profit resulted at £2.3m, up from £1.2m recorded in the previous year, marking another period of bottom-line growth.

Stated within its report, the company said: “During the year, the group has continued to invest in the development of in-house frame production so that both margins and security of supply can be improved. Having started production in September 2020, the ability to further improve the efficiency and output of this operation has been important to support the growth seen in the business.

“The company’s order book remains strong at the end of 2023 and new product lines are being developed so the directors are optimistic that the company will continue to trade profitably for the foreseeable future.”

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