Belfield Furnishings Limited, the Derbyshire headquartered parent company of upholstery supplier Westbridge Furniture and mattress source Duflex, welcomed a healthy rise in revenue by £14.7m.
According to its latest filed accounts for the year ended 31 December 2015, total sales rose by 12.4% to £132.9m from £118.3m in 2014. Gross profit also experienced an increase of 19.4% to £28.3m from £23.7m, whilst pre-tax profit swelled to £5.8m, 65.7% up from £3.5m recorded last year.
EBITDA, excluding exceptional costs, posted a return of £7.2m, up by 44% compared to £5m in 2014.
Stated within its report, the group said that its double-digit turnover uptick was bolstered by an increase in output from the launch of the group’s third facility in North Wales, which was fully operational for the majority of the year.
Earlier this year, the group underwent an MBO, backed by private equity firm NorthEdge Capital, with the new funding said to help increase the company’s production operations.
Belfield said it would continue to be led by CEO Steve Hampton and CFO Karl Stevens, while Alan McWalter, a former M&S director, will remain as chairman. Don Coates also joined the Group as COO.
With the group’s head office located in Ilkeston alongside offices in China, Belfield further boasts an operational hub in Castle Donington as well as its third manufacturing site in North Wales.