Penthouse performs strongly through pandemic
March 29, 2022
Penthouse Carpets delivered a "remarkable performance" during the pandemic to grow sales by 28% on the back of a buoyant housing market and commitment to product development and service.
In accounts just filed for the year to June 30, 2021, the employee-owned business reported sales of £15.7m, up from £12.3m in 2020 and grew their operating margin from 1.7% to 6.5%.
The company's report noted that the trading period was very challenging due to repeated Covid lockdowns during the period and logisitics issues, but said they were able to grow the business due to "a buoyant housing market helped by the stamp duty holiday and increased consumer spending on home improvements."
Penthouse says it has" immense confidence" in its products and is contnuing a programme of design development and improvement, and new product launches. It has also recently concluded a substantial investment project in machinery at its Rochdale base to improve productivy and efficiency.
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