Sleepeezee, the Kent-based bed manufacturer, reported financial results that closely matched the previous year, despite facing higher operating costs. For the year ending December 31, 2023, EBITDA decreased by 4.8% to £820,817, while revenue fell by 0.7% to £38.7 million. However, the company achieved a 2.8 percentage point increase in gross margin, and net profit surged by 87% to £758,636.
These financials precede the company's May 2024 acquisition by The Sleep Group, which also owns Britain's largest bed manufacturer, Silentnight. Sleepeezee was previously under the ownership of European private equity firm Perceva.
Photo: Sleepeezee.
Operational highlights included the launch of the Centurial range in anticipation of its 100-year anniversary in 2024 and the transfer of its defined benefit pension scheme to Legal and General, initiating a process for a full buy-out expected by early 2025.
Despite these challenges, Sleepeezee maintained its commitment to corporate social responsibility, donating £32,000 to the British Heart Foundation and £57,000 to Sheffield Children's Hospital from product sales.
Source: www.thefurnishingreport.com