Silentnight, the mattress supplier, has reported a significant increase in revenue following its acquisition of King Charles' bed-maker Sleepeezee earlier this year. The company, known as the º£½ÇÊÓƵ's "most trusted sleep brand", saw its revenue rise to £143.8m in the year ending January 2024, marking a 29 per cent increase from £111.3m the previous year.
Silentnight, which has been manufacturing its products in Lancashire for over 75 years, attributed the sales boost to growing business-to-business demand and a "resilient" performance by its consumer division despite a "challenging operating environment". Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to £12.6m, up 43 per cent from £8.8m in 2023, as reported by .
Pre-tax profit was £10.0m, up from £6.3m in 2023. Silentnight is part of HIG-owned The Sleep Group, which also acquired Kent-based bed and mattress manufacturer Sleepeezee, the supplier of beds to King Charles, earlier this year for an undisclosed sum.
Tracey Bamber, chief executive of Silentnight, said: "Our laser focus on retaining the trust of consumers, to maintain our position as the most trusted brand in the market, while also growing our contract business, delivered strong financial results last year on both the top and bottom line."
She added: "With The Sleep Group bringing together Silentnight and Sleepeezee, I believe we now have the most compelling offer in the market. The two brands are complementary, serving customers at every price point."
"Looking ahead, we continue to invest in both our brand and product offering and are well placed to continue being the first port of call for consumers seeking a brand they can trust for a good night's sleep."
Previously embroiled in controversy, Silentnight found itself at the centre of a scandal when the Financial Reporting Council (FRC) accused KPMG and Costley-Wood of having conflicts of interest during the company's sale to HIG Capital in 2011.
Subsequently, KPMG incurred a hefty £13m fine for misconduct related to the sale of Silentnight.
