Armagh soft furnishing firm Bedeck recovers to post £1.4m pre-tax profit
Northern Ireland soft furnishings business Bedeck has reported pre-tax profits of £1.4m in its latest results as it recovered from a loss of £200,000 last year.
The Magheralin-based business designs, imports and sells bed, bath and home accessory products. It also reported a slight increase in turnover to £35.6m for the year ending September 30, 2018, up from £35.2m.
The Co Armagh business is run by the Irwin family, and also sponsors Glenavon Football Club.
Its retail arm includes its factory shop in Magheralin, stores in the Linen Green in Dungannon, on the Lisburn Road in Belfast and The Boulevard outlet park in Banbridge.
Bedeck's retail operation also includes dozens of concessions throughout the UK and Ireland, including House of Fraser.
The directors said they regarded the results for the year and the position of the firm at year-end as "satisfactory". A strategic report filed with the accounts added: "During the year, the company continued to develop new brands to increase the size of the portfolio of licensed products.
"This, in conjunction with a range of well-accepted designs, enabled us to grow our sales across all sectors." The directors said market conditions were "challenging" but they anticipated remaining profitable in the present financial year.
It also detailed challenges facing the business resulting from the diversity of its customers, its supply chain in overseas markets, high working capital requirements and the seasonal nature of the trade.
The directors said the business was exposed to the risk of rising prices of textiles, particularly cotton. It said it had a 'disaster recovery plan' in place which would ensure the business would be running normally in all areas within 24 hours of fire, flood or power failure.
Bedeck has submitted a planning application to demolish its 8,000 sq ft warehouse at 187 Lurgan Road and replace it with a 20,000 sq ft dispatch building.