Scunthorpe headquartered Lebus Upholstery has posted a fourth successive rise in turnover, with profit more than doubling as investment in new products and continued growth with existing and new customers pays dividends.
According to the latest filed accounts for the year ended 31 December 2015, total sales rose by 11% to £34.7m from £31.3m in 2014, with its UK performance driving growth as sales rose by 14.6%.
Gross profit also experienced an uptick by 17.5% to £9.4m from £8m, while operating profit grew to £1.2m, 99.1% up from £603,753.
Sofa manufacturer Lebus reported a 'significant' increase in pre-tax profit, more than doubling its recorded figure of £466,864 last year, to £1.1m – a growth of 136%.
Detailed within the strategic report, Lebus said that its continued ‘investment into new products’ contributed to the period’s performance, while increasing its customer base was also highlighted as a key factor.
Looking ahead, Lebus revealed that trading in the early part of 2016 indicated a further ‘substantial’ improvement in profitability as momentum continues to build.