A family-owned Danish kitchen and furniture manufacturer, reported a substantial drop in profitability for the 2023/24 financial year, earning DKK 790,000 after tax. This marks a steep decline for the company, Kolon Total Inventar, from the DKK 3.6 million recorded the previous year. CEO Anders Mads Bonde Jensen attributed the drop to market uncertainty, slower customer decision-making, and investments in production.
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The company's gross profit fell from DKK 25.7 million to DKK 22.1 million, highlighting challenges within the business environment. Despite this, Kolon is optimistic, citing an uptick in orders since the financial year's close on June 30. The current fiscal year shows promise, with activity levels exceeding budgeted expectations.
Kolon, headquartered in Osted, Denmark, employs 42 people and specialises in institutional furniture and kitchens. Founded in 1976 by Frits Jensen, the company remains confident about its long-term resilience, with equity standing at DKK 14.2 million.
Source: www.wood-supply.dk