Manufacturer and supplier of beds, headboards and upholstered furniture Airsprung Group reports a significant uplift in profits for financial year spanning 2014/5, finishing ahead of both internal annual budgets and well ahead of its previous year's results.
Revenues from sales of the group’s beds brands were up 9.8% year-on-year, whilst overall demand for all group products showed an increase in sales revenues of 5.7%.
"The restructure of the group’s upholstery interests that commenced in early 2014 and continued into spring 2015 was a major financial investment for the group," comments chief executive Tony Lisanti. "It is therefore gratifying that the financial performance achieved for the year is after accounting for the very significant costs incurred in this major business overhaul."
According to Tony, the group’s net cash generated from operating activities grew to £585,000, and was primarily applied to investments in fixed assets for use in the business. He says that the group is well placed to continue its profit growth plans on the back of continued investment in tangible and human assets.
Read an in-depth exploration of the group's structure and approach in the September issue of Furniture News magazine.