UK profit jumps 100% at office furniture group

The UK division of US office furniture manufacturer Steelcase has reported a growth in sales as turnover continues to climb towards £40m.

According to its latest filed accounts for the year ended 28 February 2020, total sales rose 15.9% to £36.3m from £31.3m in 2019.

Gross profit rose from £4.7m to £8.7m, while pre-tax profit more than doubled from £1.2m to £2.5m year-on-year, a growth of 108%.

Stated within its report, the company said that overall business performance is expected to suffer in the short term due to the ongoing pandemic, however, Steelcase added that it is “well positioned to grow strongly as the market picks up again”.