Jay-Be, a manufacturer of folding guest beds, sofas, sofa beds, and mattresses, has reported an increase in turnover and a return to profitability.
Photo: Jay-Be
For the financial year ending 20 August 2023, Jay-Be's total sales grew by 11.5%, reaching £22.3 million, up from £20 million in 2022. This follows a 21% increase from £16.5 million in 2021.
The company recorded a pre-tax profit of £31,000, a significant improvement from the previous year's loss of £107,000.
Domestic sales in the UK rose by 2.1% to £19.3 million, compared to £18.9 million the previous year. Export sales saw a remarkable increase of 190%, climbing to £2.9 million from £1 million.
According to the company's board, 2023 marked another year of record sales, representing the 14th consecutive year of growth, excluding the pandemic-impacted FY2020.
Source: www.bigfurnituregroup.com