PKW Group Holdings Limited, which includes GNG Group Limited and GNG Sport Limited, has announced the publication of its consolidated statutory accounts for the financial year ended 31 August 2025, reporting another year of resilient performance across its specialist foam manufacturing and conversion operations.
Despite challenging market conditions, the Group delivered increased revenues of £13.14m (2024: £12.38m) +6%, reflecting continued demand for its high quality performance foam products within the Healthcare, Sports, Safety and Mattress sectors. Gross profit rose to £5.16m (2024: £4.95m) +4%, demonstrating consistent operational efficiency and the strength of long standing customer relationships.
Operating profit for the year was £389,777, and the Group achieved a profit before tax of £344,381, with a total comprehensive income of £262,684 attributable to the Group and its non-controlling interests. Cash generation remained strong, supporting liquidity and future investment across the Group.
Strengthened Financial Position
The Group ended the financial year with a cash balance of £1.85 million with zero bank debt, reflecting continued cash discipline, improved working capital management, and robust cash conversion. Net assets increased to £2.59m (2024: £2.38m), underscoring a solid balance sheet and a stable platform for future growth.
Investment in modernising production capabilities remained a strategic priority, with £189,631 invested in new plant, machinery and equipment during the period.
Workforce and Operational Efficiency
The Group employed an average of 132 staff across its operations during the year, including production, administrative, and management roles. Continued investment in training, technical capability, and operational streamlining supports both employee development and overall productivity.
Strategic Site Consolidation
As part of the Group’s ongoing focus on efficiency and long term sustainability, GNG Group Limited is progressing with a strategic consolidation of operational sites. This programme forms a key part of the Group’s forward strategy, supporting improved utilisation of manufacturing capacity, enhanced workflow efficiencies, and a reduction in overhead costs. The consolidation will also enable greater alignment of processes across business units, ultimately strengthening service delivery to customers across the UK and Ireland.
Commenting on the results, P.K. Whittell, Director and ultimate controlling party of PKW Group Holdings Limited, said: “We are pleased with this year’s performance, which highlights the resilience of our business model and the strength of our teams across the Group. This has been built over a forty- year period of trading. Continued demand across our core markets, combined with investment in our production facilities, gives us confidence as we look ahead. Our focus remains on delivering quality, reliability, and long term value to our customers.”
