Reduced customers hit orders at bedding supplier

Technical textiles manufacturer for the medical and bedding industries, Redwood, has reported a decline in sales as well as a loss.

According to its latest filed accounts for the year ended 31 December 2019, total sales fell 21.7% to £7.9m from £10.1m in 2018 – a decline of £2.2m.

Gross profit was down from £2.5m to £1.9m, while pre-tax losses amounted to £81,000, significantly down compared to its profit of £149,000 recorded the previous year.

Stated within its report, the company said that the decline in performance was due to a reduction in retail customers during the year, which corresponded with orders falling.