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Privately-owned upholstery producer JDP Furniture Group said a decrease in sales was behind the company recording a seven-figure loss last year.

 

The Long Eaton headquartered group posted group revenue down 13 percent to £48.4 million in 2016–17, with figures for individual subsidiaries not yet available.


The group recorded a £1.15 million net loss, which compared with net income of £767,000 the previous year. At £1.44 million, its EBIT deficit was wider, stripping out the effects of a five-figure tax credit and a £223,000 gain on the sale of short-term listed investments. Its net result was also helped by a fall in director pay.


JDP consolidates the results of multiple autonomously-run businesses including white-label division Welbeck House, which makes sofas for a national multi-category store chain, as well as motion furniture maker Celebrity and show-wood brand Cintique. It also owns Arlo & Jacob.


The group accounts are for the year to October 1, 2017, the period leading up to JDP's decision pull its Wade Upholstery brand out of the independents sector (see related).


Year-end cash declined to £4.96 million (2016: £7.5m), largely reflecting operating cashflow, while the balance sheet value of the group fell to £10 million (2016: £11.2m).

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