Next furniture manufacturing arm grows sales

The furniture manufacturing division at Next has reported an increase in sales while narrowing losses.

According to its latest filed accounts for the year ended 25 January 2020, total sales rose 37.5% to £8.8m from £6.4m in 2019.

Gross profit increased significantly from £97,000 to £362,000, while pre-tax losses resulted at £2m, narrowing from a loss of £2.2m the previous year.

Stated within its report, Next said: “The directors are satisfied with the performance of the company which acts to secure the supply chain for various furniture product lines in order to achieve profitable trading for the wider group.”