Northern Ireland manufacturer of luxury carpets, Ulster Carpets, has reported a growth in sales as turnover climbed to £90m.
According to its latest filed accounts for the year ended 31 March 2024, total sales rose 11.3% to £89m from £79.9m in 2023.
Adjusted EBITDA stood at £9.8m, up from £8.2m, while pre-tax losses resulted at £2.2m, compared to its profit of £3.2m recorded in the previous year.
Stated within its report, the company said: “Sales and demand in general remained very strong particularly in the US market which forms a very significant part of the group’s Axminster sales.
“Retail sales were steady but lower than last year reflecting the generally tepid conditions of the UK economy. Contract UK and European markets were also steady and while marine volumes were down, this was offset by better pricing in this competitive market.”
Ulster added its investment within its Portadown HQ is ongoing and will have eight new high-speed looms in place by early 2025.
Furthermore, Ulster Carpets has been granted a Royal Warrant by His Majesty the King. Described as a unique mark of recognition, this is the second Royal Warrant bestowed on the family-owned manufacturer of luxury carpets for the home and hospitality sectors.
In 2022, the Portadown-based company were one of the final recipients of a Royal Warrant from Queen Elizabeth II. However, this expired on the Monarch’s death.
Now, following a review by the Royal Household, a new Royal Warrant has been issued by King Charles III.
“This is a proud day for our company, and we are extremely honoured to have received the Royal Warrant from His Majesty the King,” said Nick Coburn CBE, Ulster Carpets Group Managing Director and Deputy Chairman. “A Royal Warrant is a unique mark of recognition that is viewed across the world as demonstrating unparallelled levels of quality, excellence and craftmanship.
“Ulster Carpets takes great pride in being a British company operating on a global stage and this honour underpins the high standards delivered by our dedicated employees working at our multiple sites across the UK.
“We share His Majesty’s support for British manufacturing, farming, and sustainability and, having had the privilege and honour of supplying the carpet for the King’s Coronation at Westminster Abbey, being awarded a Royal Warrant further strengthens our position as the premier global manufacturer of Axminster carpets.
“This ultimate accolade undeniably underlines our worldwide reputation and enhances our continued growth across all markets globally.”
Ulster Carpets have a long association with the Royal Family, with company founder, George Walter Wilson, who is Nick’s grandfather, welcoming Princess Elizabeth during a visit to Belfast in 1949.
In 2016, the then Prince Charles and Duchess of Cornwall visited the company’s headquarters, and last year Ulster Carpets designed and manufactured the majestic carpet for the King’s Coronation at Westminster Abbey.
