Brintons bounces back with optimism
March 1, 2024
High-end carpet maker Brintons have reported a strong recovery and a "healthy outlook" as sales and profits grew in 2023.
In its financial results files for the 12 months to 30 September 2023, sales were up 17% to £70.2m from £60.1m in 2022, and earnings (EBITDA) rose to £11.2m from £8.3m.
“Following the impact of global events [Covid & Ukraine]
hospitality demand was severely constrained but in the past year market market demand has recovered which has been reflected in a growth in orders,” said the company’s statement.
Brintons order book is driven by premium hospitality projects and the sector took a hit during the pandemic of course. But the company says market analysis and their own prospect data “indicates a healthy outlook for projects across 2024 and beyond. We forecast this growth will more than compensate for any downside to consumer demand in the residential sector.
“Confidence in our end markets has returned, leading to end users increasing the levels of capital expenditure on both new and existing projects,” said Brintons who says that big hotel and hospitality contracts are returning and casinos and cruise ship projects are showing strong recovery.
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