Wood-based panel products supplier maintains UK growth

Manufacturer of wood-based panel products to the furniture industry, EGGER, has reported another growth in UK turnover.

According to its latest filed accounts for the year ended 30 April 2023, total sales rose 8.5% to £432.5m from £398.8m in 2022, further adding to its growth of 32.5% from £301.1m in 2021.

Gross margin increased to 22.6% from 22.2%, with EBITDA decreasing 3.7% to £64.2m from £66.6m. Pre-tax profit resulted at £50m, up from £49.9m recorded the previous year.

Stated within its report, the company said: “Despite the current uncertain economic outlook, EGGER UK is well placed to sustain its financial performance based on its mix of customers, investments in employees, ongoing reinvestment in production technologies and product range, and high levels of service in the long term.”

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