Sales and profits have continued to rise at a UK-based upholstered furniture manufacturer, despite ongoing pressures from high inflation, interest rates, and wider economic uncertainty.
The company, Celebrity Furniture, which produces motion furniture with built-in rise and recline features for domestic and specialist retailers, posted a 7.4% increase in sales to £17.6m for the year ended 30 September 2024. This follows a 10% rise the previous year. Pre-tax profits climbed 78% to £1.1m, up from £617,000 in 2023 and £493,000 in 2022.
In its annual report, Celebrity attributed the improved performance to sustained demand and an increase in gross margin from 27.3% to 30.2%. It noted that the results were delivered under "difficult trading conditions in the post pandemic", citing the impact of the war in Ukraine and reduced consumer confidence.
The business maintained strong partnerships with suppliers and retailers and credited its continued success to market responsiveness and innovation. It reported progress in gaining market share within the riser recliner segment by enhancing in-store product presentation and collaborative merchandising strategies.
The company stated it remained committed to proactive development, highlighting a focus on evolving ranges and close engagement with retail partners to strengthen its competitive position.
Overall, the business reaffirmed its optimism for future growth, noting its ability to adapt and thrive amid sustained economic challenges.
Source: www.bigfurnituregroup.com