Feltham-based furniture manufacturer Burgess Furniture Ltd has reported an increase in turnover and a return to profit, as all key areas of the business showed an ‘improvement’.
According to its latest filed accounts for the year ended 31 December 2015, total sales rose by 2.6% to £11.8m from £11.5m in 2014, with gross profit also up by 5.9% to £5.3m from £5m last year. Group profit returned to positive territory at £155,068 compared to its 2014 loss of £395,034.
The company indicated that although improvements had been achieved, key factors hindered growth including the weak Euro decreasing demand, as well as a fall in oil prices and Russian sanctions which depressed certain markets.
Nonetheless, growth was maintained with the business highlighting its US joint venture had a ‘very good’ year, taking advantage of the upturn in the US market, which has continued in 2016.
Burgess also revealed that its branch in Dubai has consolidated its position and has made ‘significant’ long term business associations, which are generating further growth, whilst pinpointing that ongoing investment in manufacturing and IT systems has started to generated an efficient business model moving forward.