Bed manufacturer Sleepeezee has reported a growth in sales as turnover surpassed £30m.
According to its latest filed accounts for the year ended 31 December 2019, total sales rose 20% to £32.5m from £27.1m in 2018.
UK sales, the company’s core market, rose 28% to £31m from £24.2m, while EU sales declined by 46% to £1.5m from £2.8m.
Gross profit increased from £8m to £9.7m, while pre-tax profit resulted at £291,000, significantly improving from its loss of £191,000 recorded the previous year.
Stated within its report, the company said that sales growth has been driven by increased marketing spend by 63% alongside an internal investment programme in both infrastructure and manufacturing capacity, aimed at supporting the boost in demand.
During the period, the company also streamlined its operations by incorporating both Nestledown Beds Limited and Sleepeezee Beds Limited into one company, Sleepeezee Ltd. This will enhance its balance sheet and profitability moving forward.