Comfy Quilts sleeps easy as turnover hits £42m

BEDDING manufacturer Comfy Quilts, which has the license for the Silentnight bedding brand, has made headway in improving on turnover and profits, in what it called a “difficult” climate.

The company, which has a manufacturing site in Middleton, and its head office in Wilmslow, increased turnover by 17% to £42m for the year to the end of June 2009, while operating profits increased to £325,000, from £308,000 a year earlier.

Profit before tax was £152,500, an increase of 14% on the £133,600 it made a year earlier.

The directors’ report said that “significant improvements” had been made in reducing the company’s cost base and said this would continue.

“Unprofitable business has been addressed along with the costs of servicing certain areas of the business,” it added.

It said: “The director’s are very pleased with the significant progress the business has made in a difficult economic climate as the group continues to work towards an evolving strategy and pre-defined business model that will enable the business to continue to progress and prosper in the future.”

The company took out a new long-term bank loan over the year for around £373,000, while net debt was reduced to just over £1m, from £3.4m.

The company paid £36,600 in charitable donations over the year.