A luxury British bedmaker has reported a fivefold increase in pre-tax profit, reaching £6m for the year ending 30 June 2024, up from £1.4m the previous year. Revenue rose 6% to £43m, supported by strong UK performance and growing international demand.
© Harrison Spinks
UK sales for Harrison Spinks, which comprise the majority of business, rose 5.9% to £41m, driven by new range launches and partnerships with key retailers. While EU sales dipped slightly, the brand's international sales outside Europe rose 43% to £579,000.
The company credited its strong results to a mix of sales growth, brand development, and operational efficiency. 'Sales overall grew 6% across all sales channels,' it said, noting improved international performance through a refined global strategy and tailored product offerings.
However, the group's components division, Spinks, saw revenue fall 17.5% to £14.3m, citing weaker machine sales and customers opting for lower-value products. Despite the drop, it maintained a pre-tax profit of £1m due to tight cost control and external support.
Overall, parent group Spinko recorded a 4.2% revenue increase to £52m, with pre-tax profit rising sharply to £8.5m. Harrison Spinks' results reflect resilience and strategic clarity amid ongoing market pressures.
Source: www.bigfurnituregroup.com