Celebrity Furniture, a British manufacturer of upholstered Sofas and Chairs, has once again experienced an increase in sales and profit, as reported in their latest filed accounts for the year ending 30 September 2023.

The company's total sales rose to £16.4m, an increase of 10% from £14.9m in 2022, and an impressive 52% growth from £9.8m in 2021. Additionally, the pre-tax profit increased to £589,000, marking an uptick of 19.4% from £493,000, and another growth from the £329,000 recorded in the previous year.

Celebrity specialises in manufacturing upholstered Recliner Chairs and Sofas, supplying to both domestic and specialist retailers. According to the report, the demand for reclining furniture, particularly riser recliner chairs, remains strong. Despite the impact of the Ukraine war in 2022 and the developing cost of living crisis, Celebrity maintained strong relationships with their retailers and suppliers. The main challenges faced were the continued increase in raw material prices and supply difficulties.

However, the company has continued to thrive despite the challenging economic circumstances. The company has also been proactive in supporting their workforce. In November, they changed the operational working pattern from five days to four days, working a 39-hour contract, after a successful six-month trial. This change resulted in financial savings and better work-life balance for the employees.

During the period, Celebrity also completed a Voluntary Arrangement in June 2023, with creditors receiving 96p in the £, which was significantly higher than the 81p estimated in the administrators CVA proposals. The company had entered into a CVA with its creditors in 2020 to secure the future of the business after its parent company, JDP Furniture Group, went into administration a few months earlier. The administration ended in August 2022, with Celebrity moving into its own CVA agreement to rescue the business as a going concern.

All in all, Celebrity Furniture has demonstrated impressive growth in its sales and profits, proving to be a robust business even amidst the challenging economic conditions.