Balta bounces ahead
August 31, 2021
Rising above the major challenges importers faced throughout 2020, Belgian carpet giant Balta has reported strong growth for last six months, out-performing even its 2019 performance.
Sales were up 19.5% for the first half of 2021 to €318m compared to 2020 and 18.6% up on 2019. Rugs at 48% growth led the resurgence plus residential sales up 27%. A slow recovery in the contract sector held back Balta with revenues down 7%.
The results represent four consecutive quarters of growth for the company which is one of the UK's biggest importers of carpet and the group said re-stocking in the UK following the retail re-opening in April had delivered a strong benefit.
Cyrille Ragoucy, CEO and Chairman of the Board of Balta said: "Trading in the second quarter of 2021 added to the strong cycle over the last 12 months. Balta achieved healthy margin growth in the first half of 2021, supported by strong volume recovery, especially in the Rugs and Residential divisions. Commercial’s revenues remained stable, but below pre-COVID-19 levels, as corporates are still investing cautiously and are yet to recover."
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