old

Worcestershire sofa manufacturer Wyvern Furniture enjoyed strong top and bottom line growth in the year to end December.


The privately owned Kidderminster producer posted sales of £14.3m, up 15.5 per cent on 2013 and a return to growth after two consecutive sales declines.


Gross margin rose 160 basis point to 25.9 per cent which combined with higher sales helped it near double pre-tax profits to a shade under £1m.


Its 2014 uplift in gross margin matched a similar improvement the previous year.


Strong cash generation meant year-end cash also doubled, to £1.1m, while its growth led to job creation, with average staff numbers increasing by 18 to 171 at 31st December balance sheet date.