Wren profit surpasses £100m as sales edge closer to £1bn

Kitchen furniture manufacturer and retailer, Wren, has reported a surge in sales as turnover approaches the £1bn milestone.

According to its latest filed accounts for the year ended 31 December 2021, total sales rose 30% to £916.4m from £703.1m in 2020.

Gross profit increased 30% to £445.6m from £342.6m, while pre-tax profit resulted at £100.5m, up 34% compared to £75.3m recorded the previous year.

Stated within its report, Wren said that despite the disruption faced from the pandemic, it managed to deliver double-digit growth, as well as create over 2,000 new jobs during the period.

Furthermore, Wren opened four new showrooms, bringing its total estate to 105 across the UK and has plans to expand further.

Over the course of the year, Wren invested £72.5m in fixed assets, which included opening a second separate stone worktop fabrication plant – doubling its capacity. Wren added that its new manufacturing plant currently being built in Barton upon Humber is expected to be fully operational by the Q3 2022.

Outside the UK, Wren revealed it plans to open five more USA showrooms, adding to the three launched during the year. The company said performance is in line with expectations as it looks to continue to grow and establish its presence in the American market.

Sales in the USA climbed modestly by 2.4% to £4.2m from £4.1m, while the UK saw revenues rise 30% from £698.9m to £912.2m year-on-year.

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