Sleepeezee pre-tax profits dip to £159k in FY23
According to statements filed at Companies House, the business saw its turnover fall from £39m in 2022 to £38.7m
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Bed retailer Sleepeezee has reported a pre-tax profit of £159,261 for the year ended 31 December 2023.
According to statements filed at Companies House, the business saw its turnover fall from £39m in 2022 to £38.7m.
The bed manufacturer said that retail performance was impacted by rising interest rates and ongoing economic uncertainty. However, net sales have remained “consistent” with the previous year’s levels.
EBITDA for the group also increased 69% to £1.5m.
The company was awarded Royal Warranty in May 2024 and is currently celebrating its 100th year of trading.
Sleepeezee said: “The fiscal year 2023 was a dynamic period for our company, marked by a slight growth in gross sales year on year and a 69% growth in EBITDA. The performance was driven by strategic brand promotion, significant product introductions, and continued sector support.
“Like many other companies we continued to experience significant raw material price increases and rising energy costs. These, along with interest rate increases, were further intensified by the Russia-Ukraine conflict.”
The retailer added: “The group will continue to invest in the brand, maintain and build routes to market, innovate for future growth and reinforce our key values of service and quality.”
