PKW Group Holdings, parent of foam and mattress specialist GNG Group, and GNG Sport, has published its consolidated statutory accounts for the FY ended 31st August 2025, reporting another year of "resilient performance" across its specialist foam manufacturing and conversion operations.
Despite challenging market conditions, the group delivered increased revenues of £13.14m (up 6% YoY), reflecting continued demand for its performance foam products within the healthcare, sports, safety and mattress sectors.
Gross profit rose to £5.16m (up 4% YoY), demonstrating "consistent operational efficiency and the strength of longstanding customer relationships", says the group.
Operating profit for the year was £389,777, and the group achieved a PBT of £344,381, with a total comprehensive income of £262,684 attributable to the group and its non-controlling interests. Cash generation remained strong, supporting liquidity and future investment across the group.
The group says it ended the financial year with a cash balance of £1.85m with zero bank debt, reflecting "continued cash discipline, improved working capital management, and robust cash conversion". Net assets increased to £2.59m (from £2.38m in 2024), underscoring a solid balance sheet and a stable platform for future growth.
Investment in modernising production capabilities remained a strategic priority, with £189,631 invested in new plant, machinery and equipment during the period.
The group employed an average of 132 staff across its operations during the year, including production, administrative, and management roles. Continued investment in training, technical capability, and operational streamlining supports both employee development and overall productivity.
As part of the parent group’s ongoing focus on efficiency and long-term sustainability, GNG Group is progressing with a strategic consolidation of operational sites. This programme forms a key part of the group’s forward strategy, supporting improved utilisation of manufacturing capacity, enhanced workflow efficiencies, and a reduction in overhead costs. The consolidation will also enable greater alignment of processes across business units, ultimately strengthening service delivery to customers across the UK and Ireland, it says.
Phil Whittell, the director and ultimate controlling party of PKW Group Holdings, says: “We are pleased with this year’s performance, which highlights the resilience of our business model and the strength of our teams across the group. This has been built over a 40-year period of trading. Continued demand across our core markets, combined with investment in our production facilities, gives us confidence as we look ahead. Our focus remains on delivering quality, reliability, and long-term value to our customers.”
