Profits rise for carpet firm Brintons
Carpets firm Brintons saw profits improve despite a fall in sales in its last financial year.
Newly released figures for the 12 months to the end of September show that Brintons pre-tax profit was up from £8.57 million in 2016-2017 to £8.66m.
Revenue was down from £94.35m to £86.76m for the Kidderminster-based company, which also has a yarn spinning plant at Halesfield, Telford.
Profit after tax from continuing operations rose 37 per cent to £10.3m due to an income tax credit of £1.64m.
Chief executive Duccio Baldi said it reflected a solid performance in its first full year of ownership by Argand Partners, which bought Brintons in July 2017..
Mr Baldi added that the weakening of the US dollar had hit income from the US and Far East.
The firm, which has its head office in Stourport Road, continued with its marketing investment to support sales growth of its Wilton and Axminster ranges.
The number employed by Brintons, which also has overseas plants in Portugal, Poland and India, rose from 1,647 to 1,686 with wages and salaries down from £23.3m to £22.5m
