Member Article

Profits soar at Ossett-based flooring manufacturer Airea despite ‘fierce competition’

Ossett-based Airea has announced an increase in pretax profit to £486k, for the six months ending December 2014, compared to £24k for the same period in 2013.

The floor covering manufacturer, which employs 200 people, has seen revenue grow to £13.5m from £11.5m in 2013.

The firm reported basic earnings per share jumping to 0.80p from just 0.03p in the later half of 2013.

Martin Toogood, chairman of Airea, said: “It is pleasing to report that the success achieved in the second half of the last financial year has been maintained and the dip in sales seen in the first half of last year has been reversed.

“The retail market in the UK continues to be challenging, however there have been some signs of improved consumer confidence.

“Statistics for the UK non-residential construction sectors that we serve showed modest growth in refurbishment and maintenance work, a flat picture on private new build, and public sector new build remaining in negative territory.

“This picture of market conditions in the UK, combined with strengthening sterling and continuing difficulties in the Eurozone economies, meant that we continue to operate in a fiercely competitive and difficult environment.

“It is therefore encouraging that our strategy of strengthening our product portfolio, investing in our sales resource and the relentless pursuit of service improvements and efficiency gains has delivered a promising advance in financial performance.”

This was posted in Bdaily's Members' News section by Ellen Forster .