Losses widen at office furniture group as UK market declines

Office furniture group Ocee International has reported a decline in turnover as losses widened.

According to its latest filed accounts for the year ended 30 June 2024, total sales fell 13.3% to £31.9m from £36.8m in 2023.

Pre-tax losses resulted at £2.7m, widening from £1.8m recorded in the previous year.

UK sales fell to £15.3m from £16.7m, while EU revenues decreased to £14.9m from £18.4m. Outside the EU, sales were flat at £1.6m.

Ocee International is the parent company of Ocee Design, Four Design ApS, Race Furniture and Southerns Broadstock Interiors, and specialises in the manufacture of furniture for offices, universities, theatres and airports.

Stated within its report, the company said: “Through strong supply chain management and production efficiencies our gross profit % increased from 27.2% to 29.1%. The UK market declined by 7.8%, the rest of Europe by 19% while growth of 2.5% was seen in the rest of the world.

“Within Ocee & Four Design we continue to have a strong focus on product development. We have invested in strengthening our product development team while introducing two new product categories, namely Pods, with Innopod Mute and a space division shelving range called Klip.

“Ocee & Four Design has also strengthened its geographical coverage with the buyout of its Danish agency and the appointment of representation in Spain and Romania, together with expanding our team in southern Germany.

“We have also assisted our Manufacturing partner in Asia to expand their territories into Singapore, Japan, South Korea and Taiwan. We have also expanded the range of products offered under license in North America, Asia and Australia thereby supporting further growth opportunities in these regions.”

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