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Upholstery manufacturer posts strong year as profit surpasses £1m

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

According to its latest filed accounts for the year ended 30 April 2022, total sales rose 27.5% to £25.4m from £19.9m in 2021.

Gross profit increased from £4.9m to £6.4m, while pre-tax profit resulted at £1.2m, up from £829,000 recorded in the previous year.

Stated within its report, the company said: “The business has performed well during the year after two years in which Covid has affected trading. Following the second nationwide lockdowns of retail spaces in early 2021, the company saw strong order intake throughout the whole of the year to April 2022.

“The company continues to pride itself on the quality of product design and a number of new models have been brough online during the year. Following two years of exhibition restrictions the company has been visiting a number of UK and overseas trades shows in 2022.

“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 efficiency and output of this operation has been steadily improving. The company’s order remains strong at the end of 2022.”

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