The BHID Group, which owns the high-end cabinet furniture brands Neville Johnson and Tom Howley, experienced a significant rise in profits for the fiscal year ending April 30, 2024.
Backed by Alcuin Partners, the company reported a 59% increase in net profits, reaching £2.4 million. Despite facing intensified demand-side challenges, BHID managed a 2% revenue growth to £85.6 million.
Photo: BHID.
The growth was largely driven by Tom Howley, its kitchen business, which saw a 5.5% increase in turnover, totalling £48.1 million.
However, sales for Neville Johnson, known for its premium standalone and fitted cabinetry for spaces like bedrooms and home offices, fell by 3.3% to £31.2 million. The remainder of the group's revenue comes from the London Door Company.
Source: www.thefurnishingreport.com