Wood components supplier grows sales but below pre-Covid levels

Supplier of preformed wood components to the furniture industry, Stonebridge, has reported a growth in sales and profit.

According to its latest filed accounts for the year ended 31 May 2023, total sales rose 98% to £5.3m from £2.6m against an 18-month period ended 30 November 2021.

Pre-tax profit resulted at £1.1m, up from £384,000 recorded against the prior period.

Stated within its report, the company said: “Trading activities were difficult during the year, the group experienced an increase in turnover from the prior year, but overall, the turnover remained below pre COVID-19 levels.

“As a consequence of Russian invasion and the subsequent increase in timber and energy prices, the directors are continuing to monitor costs in order to maintain these at the lowest possible levels for their customers.

“The Group continued to seek new trading opportunities and implement production efficiencies.”

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