Export drives record turnover for textile manufacturer
Boosted by strong export sales, West Yorkshire textile manufacturer Camira Group has reported record turnover of almost £100m in its latest accounts with further growth expected following two acquisitions in 2019.
Headquartered at Wheatley Park, Mirfield, Camira Group employs around 750 people, and has 500,000 sq ft manufacturing facilities across five UK locations as well as one in Lithuania.
The company’s fabrics are chosen by furniture manufacturers, interior specifiers and end-users, with the BBC, Transport for London, HSBC, Google, Apple, Adobe and Microsoft among its users.
Camira reported turnover of £98.2m for the year ended 31 December 2018, an increase from £87.5m in 2017. Its pre-tax profit was £1.5m, compared to £2.8m the previous year, although operating proﬁt before amortisation rose to £11m from £10.5m.
Camira has also invested in international expansion, with exports currently making up about two-thirds of turnover and expected to grow in the coming years.
Finance director Lucy Bolton said: "2018 was a record year for Camira and we're delighted with our continued progress which has driven strong results in terms of both turnover and profitability. We achieved growth in both our contract and transport market segments, and continued our export sales growth in key markets in Europe and North America.
"Our recent acquisition of Luna Textiles in US further underlines our ambition to grow our international markets, while our manufacturing capabilities have been strengthened by moving into fabric dyeing alongside our yarn spinning and weaving expertise. We continue to be recognised as a trusted, reliable and socially responsible partner to our global clients."
The increase was driven by record results for Camira's Contract brand which saw a 11.7 per cent rise in turnover, and its Transport brand also achieved record results in 2018.
The business also benefitted from its second full year of trading from its Clerkenwell showroom in London following its opening at the end of 2016.
Camira completed two acquisitions following the end of the financial year with the acquisition of the first, Holmfirth Dyers, in February. In July, it bought US-based Luna Textiles, which offers a portfolio of patterned textiles to the corporate, hospitality and healthcare markets.