UK design-led specialist flooring company, AIREA plc, has reported a slight uptick in sales as one-off costs impact profit.
According to its final results for the year ended 31 December 2024, total sales rose 0.6% to £21.2m from £21.1m in 2023.
AIREA said that the second half delivered a strong return, with sales up 6%, recovering from the 5.6% shortfall in the first half.
“The second half saw a strong recovery with the UK and ROI delivering 4.5% growth and international markets growing by 11.8%,” the group said.
“Our focus on innovation and sustainability increased in the year, reflected in the successful launch of several carbon-neutral products. The Group also refreshed and relaunched several popular low-carbon ranges.”
EBITDA decreased to £1.1m from £2.6m, while pre-tax profit resulted at £63,000, down from £1.4m the previous year.
“Profitability was impacted by certain non-recurring costs associated with the new manufacturing facility and ongoing investment in people and other resources to support future profitable growth,” the group added.
Médéric Payne, Chief Executive Officer of AIREA plc, commented: “AIREA had another year of progress in 2024 as the strategic investment in the manufacturing facility began to take shape, with production expected to come online in the third quarter 2025. This investment will enable the Group to increase production, capitalise on efficiencies, and improve quality and enhance margins, whilst bringing new, more innovative and sustainable products to the market.
“Following an unforeseen slowdown in the second quarter of the year due to the global economic and geopolitical challenges, the second half recovered strongly and delivered 6.0% growth year on year. Full year sales were 0.6% ahead of prior year, with the UK and ROI outperforming the overall market in sales volume according to recent market research.
“Our primary focus is the Group’s future long-term profitable growth and during the year we continued to invest in the business with this objective in mind. Reported operating profit was impacted by non-recurring costs as well as the programme of investment, however we are satisfied with the underlying performance of the business during 2024.
“Throughout the year, we also continued to transform the business with a more focused approach to quality, design, innovation, sustainability and working closer with our customers. The last twelve months have seen an improvement in the Group’s capabilities and market profile which will leave us well-positioned to deliver our growth strategy for the business.”
