Hull-based furniture manufacturer Kingstown has reported a return to profit, as well as seeing turnover register an uptick by 5.1%.
According to Kingstown Holdings Limited latest filed accounts for the year ended 31 March 2016, total sales grew to £24.7m from £23.5m in 2015. Gross profit also experienced a growth of 8.4% to £11.6m.
Kingstown Holdings, which houses brands including Kingstown, KT and Consort, reported a pre-tax profit of £1.1m compared to its loss of £172,936 recorded last year, whilst resulting in an end of year cash balance of over £1m, up by 40.4%.
Family furniture firm Kingstown has recently secured a £1.8m finance package from Lloyds Bank Commercial Banking and plans to add a further 10,000sq ft its factory, as well as modernising its offices at the 11-acre site.