Sales growth continues for Neville Johnson
MANCHESTER furniture manufacturer Neville Johnson said it is on track to achieve sales of £33m in the year to April.
This is up on £27.6m in the year to April 2013 and up from £15.9m since 2010.
Pre-tax profits have also grown – to £542,000 from £86,000 in 2012.
In 2010 it made a loss of £139,000, and since then the size of the workforce has doubled to 400.
The company, which is owned by private equity firm Key Capital Partners, puts some of the growth down to its 2011 acquisition of Tom Howley, which specialises in luxury fitted kitchens.
Its sales have grown from £1.5m to £8m after opening three more showroms, taking the total to six.
Chief executive Nigel Pailing said: “In the face of the worst downturn in living memory we have been able to double the size of the business. We have done this through organic growth, the launch of our staircase renovation business and the successful openings of our new Tom Howley showrooms.”
Peter Armitage, partner at KCP, said: “UK manufacturing is experiencing a resurgence at the moment. We are seeing a number of businesses turning away from China and other low-cost countries to capitalise on the quality and craftsmanship that has been a fundamental part of the UK for many centuries. Tom Howley kitchens and Neville Johnson furniture has always been made in Britain and will continue to remain here as the group expands and strengthens its operations.”
KCP invested £4.25m for a majority stake in Neville Johnson in a £12.5m secondary buy-out in 2008.
