buoyantUpholsteryThe double-digit growth trend at expanding sofa manufacturer Buoyant Upholstery continued in the first year since it was acquired in a private equity backed MBO.

Accounts for the Nelson firm’s holding company show operating profits of £4.4m on sales of £59.7m. Pre-tax profits totalled £2.8m.

The maiden accounts take in the circa 15 month period from the buyout in July 2013 to the end of September last year.

Pro-rata sales on an annualised basis total £48.8m*, which would represent an uplift of around 10.4 per cent on the £44.2m revenue for the year to end September 2013.

However, The Furnishing Report estimates that actual year to end September 2014 revenue will be slightly higher at £50.3m (+13.8pc) when Buoyant’s trading arm files accounts, which aren’t due for several months.

Former owner Charles Wade — whose other furniture interests include the Multiyork and Feather & Black retail businesses — sold Buoyant to its management team in a deal led by md Mike Aramayo and backed by private equity firm NVM.

* pro-rata figure is calculated from the total sales figure spanning the 446 days from 10th July 2013 to 28th September 2014.