Flair Furniture, the expanding furniture retail group that owns Bed Kingdom, has reported a growth in sales and profit.
According to its latest filed accounts for the year ended 29 February 2024, total sales rose 59% to £19.7m from £12.3m in 2023.
Pre-tax profit resulted at £1.1m, up from £486,000 recorded in the previous year.
Stated within its report, the company said: “In the face of a turbulent market and declining consumer confidence, Flair Furniture Ltd has demonstrated remarkable resilience and consistent growth.
“The company’s strategic investment in a new 70,000 square foot warehouse is expected to significantly reduce long-term infrastructure costs, enhancing operational efficiency. Additionally, the management team has been strengthened with the appointment of a fractional CFO, providing expert financial oversight and strategic guidance.
“Flair Furniture Ltd is pleased to announce the recent acquisition of the retailer Cuckooland, a strategic move designed to bolster our growth trajectory. This acquisition not only opens up new markets but also presents a wealth of opportunities for expansion.
“In addition to this significant acquisition, we have invested in the development of our existing brands, including Recoil, Maxitex, Flair Furnishings, and Noomi. These efforts are aimed at increasing brand awareness and solidifying our position in the market.
“We are pleased to report that, unlike many of our competitors who have experienced a post-COVID decline in sales, Flair Furniture Ltd has achieved an impressive increase in sales. This performance underscores the effectiveness of our growth strategies and our commitment to delivering value to our stakeholders.”
