UPHOLSTERY group DM Midlands will post a fourth straight year of top line growth when it files accounts for the year to end March 2016.

The Dudley group’s 2015–16 unaudited figures were disclosed as it outlined a £35 million joint venture partnership with Thailand Carpet Manufacturing Company, which is taking a 75 percent stake in the business.

The Thai company acquired a similar stake in Alstons Upholstery last year.

Figures for the Ashley Manor, AMX Design and Alexander & James businesses combined for the year to March 2016 show sales climbed 3.9 percent to £71.1 million.

Gross margin widened by 200 basis points to 31.2 percent, with pretax profit up by 40 percent to £4.8 million.

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