Harrison Spinks, the Leeds-based luxury bed maker, has unveiled a more than 30% rise in its latest financial results, with turnover almost topping £50 million.
For the year to June 30 2016, Spinko – the manufacturer’s holding company – posted revenues of £48.4 million, up from £37.2 million on the previous year.
Moreover, profit before tax was also up by more than 50%. In 2015, the company posted profits of £5.9 million, which now stand at £9.1 million in its most recent results.
The recent surge has been pit down to the company’s development of its pocket spring and natural fibre comfort technology. On the financial side, it cites maintain its gross margin and improving net margin as the driving force.
As part of its five year strategy, the company is investing £9 million in growth and developing next gen bed technology.
This investment includes a new site at its Leeds factory as well as additional offices for its expanding team.
Ruairi Giles, Commercial Director of Harrison Spinks, said: “We have continued to invest in both our business and staff to be a leader in making luxury beds. We recently announced our plans to invest £9m that will not only help our business to grow, but will also provide new innovations to revolutionise the bed industry.
“We are proud of our Yorkshire heritage and our significant growth has led to more employment opportunities locally, which can only be a good thing during this time of economic uncertainty.”