Luxury beds manufacturer Vispring grew profits by 16 per cent in 2014 on the back of higher sales and a 70 basis point improvement in gross margin.

The luxury Devon producer—along with retailer And So To Bed wholly owned by the Spanish Flex bedding group—made £5.1m before tax (2013: £4.4m) with gross margin rising to 50 per cent (2013: 49.3pc).

Sales rose 5.5 per cent to £38.7m, with Vispring saying it had enjoyed a steady increase in export revenue during the year, with further international sales growth expected this year. It didn’t break down its sales by country or region.

Year-end cash declined to £4.2m (2013: £5.4m) while shareholder funds increased to £8.6m (2013: £7.5m), with Vispring paying a £2.8m dividend (2013: £2.5m) to its Spanish parent company.