AIREA PLC, a UK design-led specialist flooring company, has released a trading update for the twelve months ended 31 December 2023 and announced a significant £5.0m investment in its manufacturing facility. The company reported strong sales growth throughout the year, with sales finishing in low double-digit percentage ahead of the prior year. AIREA introduced eco2matters® sustainability principles in December 2022, which have now been established across its entire operational model.
The £5.0m investment in its manufacturing facility in Ossett, West Yorkshire, scheduled to commence in March 2024, will substantially increase capacity and include the automation of certain processes using cutting-edge Artificial Intelligence imagery and inspection technology. This investment aims to increase production, improve operational efficiencies, and enhance the Group's sustainability credentials by utilizing energy more efficiently.
Martin Toogood, Independent Non-Executive Chairman of AIREA plc, expressed the Group's positive momentum both financially and operationally. He emphasized that the investment in the manufacturing facility is pivotal in providing additional capacity and will enable the company to evolve its existing processes, providing a strong platform for growth.
Médéric Payne, Chief Executive Officer of AIREA plc, highlighted that the investment in the manufacturing facility will be transformational for the business, providing modern manufacturing standards for the next decade and beyond. The investment aligns with the Group's eco2matters® sustainability principles and the journey towards net zero. A significant step change in the business is the intention to invest for future sales growth, incorporating sustainability principles and the launch of carbon neutral products.
The investment is key to the business in delivering growth aligned with developing the strategy for the long-term benefit of both the Company and its shareholders. AIREA plc is a UK design-led specialist flooring company, supplying both UK and international markets, and has been focused solely on floor coverings since 2007. The Group's core brand, Burmatex®, is one of the UK's leading designers and manufacturers of commercial carpet tiles and planks, with a strong and growing brand position within the commercial flooring market.