Specialist flooring company AIREA plc has announced a growth in sales and profit.

According to its full year results ended 31 December 2022, total sales rose 16.5% to £18.5m from £15.9m in 2021. Pre-tax profit resulted at £1.4m, up 11% year-on-year, with net cash increasing by 53% to £2.8m.

AIREA said that its relaunched Employee Share Scheme to a wider employee pool helped drive long-term performance, alongside the launch of its sustainability principles, eco2matters, to focus on improving all aspects of the Group’s impact on the environment and society.

Médéric Payne, Chief Executive Officer of AIREA plc, commented: “AIREA has made continued progress and maintained a high standard of service to our customers, with improved revenue growth of 16.5%, even in the face of economic challenges. Despite the inflationary cost pressures the Group experienced throughout the financial year, we maintained our margins and balance sheet strength.

“The launch of our sustainability principles, eco2matters, along with our product range and carbon-neutral flooring, focuses on the way we will improve the Group’s impact on the environment and society. These principles play an important role in driving the inherent long-term values of the Group and we are confident in our commitment to our ESG strategy.

“We have made progress in our energy efficiency and the Group will continue to explore alternative methods to improve that further.

“Demand is starting to recover to pre-pandemic levels, as we have identified further export growth opportunities.

“With our focused strategy, whilst leveraging the Burmatex® brand, we are building a strong platform for growth to deliver continued progress for AIREA and returns to its shareholders.”