Record results fuel optimism at outdoor furniture maker
Akula Living – a marine-grade commercial outdoor furniture manufacturer for the world’s largest hospitality and cruise operators – has achieved record revenues.
In the financial year ending 30 September 2023, the Wetherby-based company reported annual revenues of £21.1m, with a gross profit of £10m and £6.5m EBITDA.
Maintainable EBITDA increased to £6.5m from £2.1m in the previous year.
Throughout 2023, the business says it invested to underpin long-term growth, cementing its position in the cruise sector and growing its market share with hospitality clients.
The company delivers 95% of its sales in overseas markets,
BGF’s backing is designed to accelerate Akula’s global ambitions to include new offices in Australasia, Saudi Arabia and the UAE. A South America office is planned for later in 2024.
In addition the business says it will open a Green Certified factory in 2024 to continue evolving its environmental credentials.
Tim Appleton, CEO, said: “Our results have filled me with both pride and excitement and a sense of anticipation in the future.
“We continue to be market leaders in the manufacture of marine-grade outdoor furniture, which is reflected in our current order book, thanks in part to winning a number of hotel and cruise projects.”
