RETURN TO PROFIT FOR FURNITURE MANUFACTURER

A Sheffield-headquartered manufacturer and supplier of bedroom furniture has returned to profit and edged sales towards the £30m mark.

Home Décor was originally established as Acmetrack in 1975, before being acquired by The Stanley Works Inc in 1987 and sold seven years later.

At this time, it was renamed Home Décor GB and is today wholly owned by Cerberus Capital Management.

Its head office is in Sheffield, while the business also has a presence in Italy, the Netherlands, China, Australia and the US.

For the year to 31 December 2016, Home Décor reported turnover of £29.95m compared to £28.9m the previous 12 months.

The company also recovered from last year’s pre-tax loss of £512,610 by making a profit of £579,151.

Home Décor said it had enjoyed an increase in domestic sales through both its contract and direct-to-consumer channels, as well as a boost in European revenue. The return to profit was attributed to a reduction in direct costs and underlying overheads, as well as a rise in the sale of higher margin products.

For 2017, directors expect the company to “continue trading at comparable profit levels to the previous year”.

During the year end, the Sheffield company acquired Optiplan Kitchens and the Manor Cabinet Company in a move expected to create a group with turnover of £50m, employing about 350 staff across the UK.

At the time, Home Décor chief executive Max Crosby-Browne said: “This acquisition is a hugely exciting move for Home Decor and an important strategic step in achieving our growth plans.

“We will now have two distinct business units which together can offer customers a more integrated offering.  The three businesses are a great fit in terms of culture, product offering and market sectors.”

Source: Matthew Ord, Insider Media, 2nd August 2017