A new study from market analyst Plimsoll Publishing indicates confidence is up in the furniture manufacturing sector as 67% of companies have seen their sales increase in the latest year.
The study, which looks at the largest 887 companies operating in the UK furniture manufacturing industry, indicates these growing companies are delivering growth rates of 12% and many of these are making a healthy profit return.
Further results from the study show that on average, each company has seen their sales improve by 6.8%.The average sales per employee is £103,000 – however some firms are reporting sales per employee of £155,000. Of the companies featured in the report, 78 have been rated as financially strong. However, 51 firms have been rated as being in financial danger
David Pattison, Plimsoll’s senior analyst, says: “The report highlights how improvements in growth, profit and productivity mean traditional benchmarking levels are now looking dated. To keep up with the best, then new levels of performance are required.
“The results in the analysis prove that all businesses need to keep striving towards an increase in sales and profits. Those who are too content to grow and are putting security ahead of growth are at risk of falling behind.”
The new report into the furniture manufacturing industry provides an in-depth industry analysis of the leading players in the market. The report contains a valuation, acquisition attractiveness score and overall financial rating for each company. It is designed to help anyone looking at buying or selling companies to understand the options open to them.