Boxed mattress retailer Simba Sleep has reported a growth in sales as losses narrowed to under £1m.

According to the latest filed accounts ended 31 December 2023, total sales rose 15% to £95m from £82.7m in 2022.

Pre-tax losses resulted at £753,000, narrowing from a loss of £8.6m the previous year.

Stated within its report, Simba said UK sales rose 17.7% to £89.5m from £76m, while mainland Europe revenues decreased from £5.5m to £4.7m. Sales outside of the EU also fell from £1.1m to £767,000.

Simba said that revenues were up 98% on pre-Covid 2019 turnover of £48m. The group achieved its second biggest ever turnover quarter in Q4 2023 with management “confident” it has gained market share.

“The core UK business maintained monthly profitability across the entire year and generated a strong improvement in adjusted UK EBITDA to £10.1m,” Simba said.

“The UK EBITDA and the group’s strong cash position, enabled the group to invest further in its overseas territories, laying the foundations for future profitable growth.  

“The group started 2024 in a strong operational and financial position ready to take advantage of opportunities whilst managing the risks. The expected outlook for the 2024 year is for further profitable growth in the UK whilst continuing to grow overseas markets. The group expects to be cash generative in 2024.”