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Neptune has reported its EBITDA doubled to £6.1m for the 2024/25 financial year following the implementation of a new strategy under a revised leadership team.
The home lifestyle brand also recorded profit before tax of £2.4m as its revenue remained stable, the business reduced its long-term debt facility for the first time since 2019.
Growth was driven by a triple-digit increase in the upholstery business and a reduction in promotion-led sales. The company also launched Neptune ReNewed, a circular initiative for existing products.
The performance comes under a new leadership team formed when chief executive Mike Clark joined the company in August 2024. The leadership team includes chairman Will Kernan, chief financial officer Will Coulten, and chief retail and people officer Steve Morris.
The strategy focused on operational discipline and product design. Neptune, which designs its range in Wiltshire, also secured a multi-year facility renewal with its banking partner HSBC.
Growth was driven by a triple-digit increase in the upholstery business and a reduction in promotion-led sales. The company also launched Neptune ReNewed, a circular initiative for existing products.
The brand will expand its retail footprint with three stores planned for 2026. A new partnership with John Lewis will also see Neptune furniture and accessories enter select department stores.
Kernan said: “These results reflect Neptune’s strength as a premium brand and the opportunity we have for the future. We have re-established a foundation for sustainable growth built on quality, integrity, and an obsession with the customer.”
Clark said: “We have built a business that combines enduring design with operational excellence. As we look to the next phase, we will continue investing in our people, our product, and our customer experience.”
