An outdoor furniture designer and manufacturer, in the UK, reported a modest increase in revenue alongside a decline in pre-tax profit for the year ended 30 September 2024.
Total sales for Akula Living rose by 2.3% to £21.5m, up from £21m in 2023. However, pre-tax profit fell to £4.1m, compared to £6m in the previous year. The company attributed the sales growth to stronger UK performance, where sales increased by 77% to £1.3m. Exports, which remain the company's core business, saw a slight decline of 0.4%, totalling £20.2m.
During the financial year, Akula Living received a minority investment from the Business Growth Fund (BGF), which the company described as a significant opportunity to support its international expansion. The investment has enabled the firm to strengthen its presence in the US and establish operations in the Middle East, Asia, Mexico, and Australia.
'The business continues to outperform many of its competitors,' the company stated, adding that the backing from BGF has provided the resources and personnel needed to support ongoing growth. The company said it remains focused on servicing its existing client base while actively pursuing new customer opportunities.
Looking ahead, Akula Living anticipates maintaining its growth momentum, supported by strategic investments and a broadened global footprint.
Source: www.bigfurnituregroup.com