AIREA PLC, a UK design-led specialist flooring company, has announced its final results for the year ended 31 December 2023. The company reported a 14.1% increase in group revenue to £21.1m, with operating profit before valuation gain rising by 9.2% to £1.8m. EBITDA also increased by 13.0% to £2.6m, and net cash saw a 21.4% increase to £3.4m. The final dividend was raised by 10.0% to 0.55p per ordinary share.
The company highlighted the successful launch of two carbon-neutral products, arctic® and osaka®, and the refresh of two low-carbon products, infinity and go-to®, as key drivers of sales growth. AIREA also emphasized its commitment to sustainability, with the implementation of the Group's sustainability principles, eco2matters®, across all business operations.
AIREA made key appointments during the year, including Tanya Ashton as Non-Executive Director in May 2023 and Conleth Campbell as Chief Financial Officer and Executive Director in October 2023. Additionally, the company announced a £5.0m investment in its manufacturing facility in Ossett, West Yorkshire, to increase capacity and incorporate cutting-edge Artificial Intelligence imagery and inspection technology.
Médéric Payne, Chief Executive Officer of AIREA plc, expressed satisfaction with the company's performance, stating, "AIREA made excellent progress in 2023 and has maintained a high standard of service to our customers, with revenue growth of 14.1% over the period." He also highlighted the company's focus on sustainability and its intention to continue investing for future sales growth, incorporating eco2matters® principles and the journey towards net zero.
Despite challenging economic conditions, AIREA reported a good start to the year, with high demand for its carbon-neutral and low-carbon products. The company expressed confidence in continuing to outperform the market in 2024.
For further information, please visit AIREA's website or contact the company directly.