Bed manufacturer Silentnight has recorded a rise in revenues in its past financial year, with the results boosted by sales to some of the UK’s leading bed retailers and hotel operators.
Revenues at the company reached £143.8m in the year to the end of January 2024, up 29% from £111.3m in the previous year.
Sales were supported by increasing demand in its contract division and a resilient performance by its consumer division despite a challenging operating environment.
EBITDA, a key indicator of underlying profitability, was £12.6m, up 43% from £8.8m in 2023. Pre-tax profit was £10.0m (2023: £6.3m).
Silentnight, which has manufactured its products in Lancashire for over 75 years and also has an office in central Manchester, is ultimately owned by H.I.G. Capital. Silentnight is part of The Sleep Group, which also owns Sleepeezee, the Kent-based bed and mattress manufacturer.
Tracey Bamber, chief executive of Silentnight, said: “Our laser focus on retaining the trust of consumers, to maintain our position as the most trusted brand in the market, while also growing our contract business, delivered strong financial results last year on both the top and bottom line. I’m also really pleased to report that trading has remained robust so far in the current financial year.
“With The Sleep Group bringing together Silentnight and Sleepeezee, I believe we now have the most compelling offer in the market. The two brands are complementary, serving customers at every price point.
“Looking ahead, we continue to invest in both our brand and product offering and are well placed to continue being the first port of call for consumers seeking a brand they can trust for a good night’s sleep.”
In its past financial year, Silentnight also maintained its commitment to product quality, sustainability and service excellence, investing almost £0.9m in research and development at its manufacturing hub in Barnoldswick, Lancashire.
Meanwhile, it has invested over £1m in one of its biggest ever ad campaigns, which launched in September. It features a range of characters – designed to represent the diversity of the UK – rushing to get home to bed, with the tagline ‘Sleep great, Britain’.
