Northern Irish manufacturer grows sales by 15%

Belfast-based furniture manufacturer Balmoral Furniture has reported an uptick in turnover as sales surpassed £10m.

According to its latest filed accounts for the year ended 31 March 2020, total sales rose 15% to £10.7m from £9.3m in 2019.

Gross profit rose from £2.6m to £3m, while pre-tax profit more than doubled to £338,000, up 136% from £143,000 the previous year.

Stated within its report, the company, which has been trading since 1946, said that its growth was due to securing new orders and repeat business through retailers.

Looking ahead, the business expects turnover to fall due to the impacts of the Covid-19 pandemic. However, with the help from Government support and control on overheads, it is anticipated that a “break-even position” will be achieved at the end of current year.