Silentnight returned to profit for the first time since 2019 during its latest financial year. The company, which is headquartered in Barnoldswick, Lancashire, also saw a rise in its turnover during the period.
Newly-filed documents with Companies House have revealed that the business achieved a pre-tax profit of £6.3m in the 12 months to January 28, 2023, compared to losses of £7.1m in the prior year.
The last time Silentnight made a pre-tax profit was the £8.6m it reported in the year to February 2, 2019. Since then its losses have totalled more than £9.2m. During its latest financial year, the company's turnover increased from £112.1m to £114m.
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During the year, the average number of people employed by the company increased from 723 to 735. The increase came after Silentnight's headcount fell by almost 250 during its previous financial year.
In a statement signed off by the board, the company said: "Turnover has increased by 2%; despite the consumer market experiencing some softening the commercial sales grew due to new contract wins. This has also helped drive an increase in the adjusted EBITDA of £456,000 and an increase in the average number of employees.
"Profit/loss after tax increased by £16m, however the prior year included [a] £13.1m expectational cost due to the final settlement of a legal case with the Pension Regulator in relation to a historical legal claim that was resolved in March 2021."
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On its future, Silentnight added: "The directors aim to continue the management policies, which have resulted in the group growing market share and its position as the 海角视频 market leader. They consider that the challenges facing consumer trade and the overall economy will remain during 2024, but the strategy is in place to deliver improved performance from continuing operations."
In March, Silentnight appointed Tracey Bamber as chief executive to succeed Neil Anderson, who stepped down after four years.
In a statement, Tracey Bamber said: "Last year was another year of solid progress by Silentnight as we capitalised on our position as the 海角视频's most trusted sleep brand, maintaining our role as market leader with a range of sleep products to suit every customer, despite a challenging macroeconomic background. The value of our brand, partnerships and customer proposition mean we look ahead with confidence about maintaining our robust performance."