Healthcare furniture specialist Drive Medical has reported a significant increase in turnover as acquisitions made during the period contributed to Group growth.
According to the latest accounts filed for the year ended 31 December 2015, Drive Medical, which includes the Restwell brand, posted a 41.5% rise in sales to £66.4m from £46.9m in 2014.
Gross profit grew by 59.7% to £21.4m, while operating profit swelled 9.3% to £3.5m. The Group recorded a pre-tax profit of £1.4m, 36.6% down year-on-year.
During the period under review the Group made two acquisitions within its first quarter, contributing sales of £15.5m. The Group acquired Specialised Orthotic Services (SOS) and Park House Healthcare (PHHC), with directors ‘confident’ both purchases will continue to ‘grow and develop’.
Commenting within the strategic report, the Leeds-based business said: “Turnover and operating profit increased significantly from the previous year as the Group made further acquisitions and achieved good growth.”