Momentum builds at flooring company despite global turbulence
Flooring specialist, AIREA, has reported strong growth in the second half of the year with sales six per cent above the prior year, resulting in the period being 0.6 per cent ahead year-on-year at £21.23m (2023: £21.10m).
In a trading update for the 12 months ended 31 December 2024, the Ossett-based business says the UK and Republic of Ireland delivered 4.5 per cent sales growth in the second half, finishing the period 2.4 per cent above the prior year, compared to a deficit of 0.3 per cent at the half year.
And sales in the firm’s international markets grew by 11.8 per cent in the second half, finishing the period 5.7 per cent below the prior year, a large improvement on the shortfall of 21.9 per cent at the half year.
Martin Toogood
Martin Toogood, independent non-executive chairman, said: “The group is pleased to report positive momentum in the second half of the year.
“This encouraging performance was delivered despite the ongoing global economic and geopolitical challenges.
“Investment for future growth continued with an increased focus on innovation and sustainability, reflected in several new product launches. The order book at the end of the period remained strong.
“These are exciting times for the group and the Board remains confident in the group’s long-term trading and growth prospects.”
AIREA adds its short-term priority remains the installation and commissioning of major investment in its manufacturing facility.
Equipment is expected to be installed during the second quarter and commissioned in the third quarter.
The business says this significant investment in the profitable future growth of the group will increase production volumes to meet customer demand and improve operational efficiencies.
After certain non-recurring costs associated with the manufacturing facility and ongoing investment in people and other resources to support future growth, the group says it expects to report a satisfactory result for the year overall.
