TechTex, the nonwoven fabrics group, has reported a notable increase in profits despite a minor decline in turnover. For the financial year ending 30 November 2024, the company's sales fell 3.3% to £19.9 million from £20.6 million in 2023. Pre-tax profit, however, rose sharply to £2.1 million, up from £269,000, while gross profit margin improved to 26.1% from 20.6%.
© TechTex
The company attributed its stronger profitability to a strategic focus on higher-margin products and accounts. "The company has continued to 'streamline' its sales base to concentrate on higher margin products and accounts," the report noted. Additionally, ongoing investment in new plant and machinery has helped enhance operational efficiencies.
TechTex's operations include a division supplying the furniture and bedding industry, producing materials used in mattresses, quilts, and other products, alongside other industrial sectors.
The results demonstrate the group's ability to maintain financial growth by prioritising profitability over volume, optimising production processes, and targeting higher-value markets, even in a period of slightly reduced overall sales.
Source: www.bigfurnituregroup.com
