Airea PLC - West Yorkshire-based flooring company - Posts revenue of £18.5 million for 2022, up 17% from £15.9 million in 2021. Says home sales recovering to pre-pandemic levels. Pretax profit rises by 11% to £1.4 million from £1.3 million, as operating profit climbs by 7.8% to £1.4 million from £1.3 million a year earlier. Declares total dividend of 0.5 pence per share, up 25% from 0.4p a year prior. Looking ahead, Airea says it is pleased that cost pressures are beginning to ease and stabilise, but warns that the cost increases in 2022 will be experienced in 2023. Adds that it has been able to recover in both the UK and export market.

Chief Executive Officer Mederic Payne says: ‘Airea has made continued progress and maintained a high standard of service to our customers, with improved revenue growth of 16.5%, even in the face of economic challenges. Despite the inflationary cost pressures the group experienced throughout the financial year, we maintained our margins and balance sheet strength.’

Current stock price: 39.00 pence each, up 2.6% on Wednesday afternoon in London

12-month change: up 53%

Copyright 2023 Alliance News Ltd. All Rights Reserved.