- Details
- NEWS
Listed carpet group Airea almost doubled underlying profits in the six months to end June with its now-closed residential business no longer proving a drag on performance.
The company — whose residual flooring business is contract carpet supplier Burmatex in Ossett, Yorkshire — said half-year profits from continuing operations climbed to £1.3 million from around £700,000 for the same period in 2017.
New product introductions helped Burmatex grow sales by 13 percent to £9.1 million, with international revenue up by nearly a third.
Airea announced the closure of its loss-making Ryalux operation back in March this year, affecting around 50 employees. The residential carpets business had represented around 25 percent of Airea's 2016–17 revenue of £23.9 million.