A luxury mattress manufacturer has recorded an increase in both sales and profit for the latest financial year. For the year ending 31 December 2024, total sales rose by 1% to £52.7m, up from £52.1m in 2023. Pre-tax profit also increased, reaching £22.8m compared to £19m the previous year.
Vispring, the company behind the figures, reported that growth in the domestic market contributed to the overall sales rise, with UK revenues increasing by 5% to £20.9m. Sales in the EU also improved, rising from £15.2m to £17.8m. However, sales in the rest of the world declined to £13.9m, down from £16.8m, with the company citing reduced demand in the Chinese market as a key factor.
Although total worldwide sales units fell by 4%, Vispring noted that customers 'traded up to higher value models', helping to improve profitability. Export sales overall dipped by 1%, but the company's gross margin increased to 72.2%, up from 70.2%, reflecting the shift towards premium products.
The company described the performance as resilient, supported by strong domestic demand and a clear consumer preference for higher-end mattress options.
Source: www.bigfurnituregroup.com