Flooring business grows turnover past £100m

Flooring and tiles business Amtico has reported a growth in sales as turnover surpassed £100m.

According to its latest filed accounts for the year ended 31 December 2019, total sales rose 5% to £101.4m from £96.5m in 2018.

UK sales rose 6.9% to £64.6m from £60.4m, as did sales in the EU, up 2.3% to £30.7m from £30m. Revenues from outside the EU were static at £6m.

Gross profit remained consistent at £40m, while pre-tax profit resulted at £11.2m, down slightly by 16% from £13.4m.

Stated within its report, the company said that operating profit was impacted by a lack of UK factory capacity, unrealised exchange losses and the write down of some overseas intercompany debt. This saw profit ending 21% lower than the prior year.