The business juggernaut that is direct-to-consumer kitchen, bathroom and living furniture retailer Wren Living continued to gather pace in the year ended 31 December 2015, with the nationwide 54-store chain posting yet another impressive rise in turnover of 31% year-on-year to £257.5m for its latest 12 months of trading.
The Yorkshire headquartered vertical has exhibited outstanding growth since its formation in 2008 and such rise in prominence showed no signs of relenting as the gross profit margin increased by 34% to £119.6m from £89.4m.
Wren Living’s profit for the financial year rocketed to £10.9m from a loss of £2.5m in 2014, as continued investment pays dividends. The group, which has invested in excess of £95m in infrastructure, has also outlined further investment in 2016 will be injected to introduce new manufacturing lines, as well as expanding its 750,000sq ft factory at Barton Upon Humber.
A strategic report attached to the balance sheet highlighted: “The company reached another milestone as its annual turnover exceeded a quarter of billion pounds. The company has only opened three showrooms during the period, therefore achieving this growth through the existing network.
“The directors are of the opinion that the performance is satisfactory and it continues to follow the pattern laid out in the original business plan.”