Flooring company sees revenues rise 16.5%

Ossett specialist flooring company AIREA saw its full-year revenues rise by 16.5% to £18.5m.

The firm appointed a new chief executive, Médéric Payne, launched its sustainability principle, eco2matters, to focus on improving all aspects of its impact on the environment and society, and relaunched its employee share scheme to a wider employee pool during the 12 months to the end of December, it said in a statement to the London Stock Exchange.

During the same period it saw operating profit before valuation up by 25.8% to £1.7m and pre-tax profit before tax up 11% to £1.4m.

It subsequently launched its first carbon neutral flooring range in early 2023.

Chief executive Médéric Payne said,  “AIREA has made continued progress and maintained a high standard of service to our customers, with improved revenue growth of 16.5%, even in the face of economic challenges. Despite the inflationary cost pressures the Group experienced throughout the financial year, we maintained our margins and balance sheet strength.

“The launch of our sustainability principles, eco2matters, along with our product range and carbon-neutral flooring, focuses on the way we will improve the Group’s impact on the environment and society. These principles play an important role in driving the inherent long-term values of the Group and we are confident in our commitment to our ESG strategy.

“We have made progress in our energy efficiency and the Group will continue to explore alternative methods to improve that further.

“Demand is starting to recover to pre-pandemic levels, as we have identified further export growth opportunities.

“With our focused strategy, whilst leveraging the Burmatex brand, we are building a strong platform for growth to deliver continued progress for AIREA and returns to its shareholders.”