18 May 2024, 14:12
By Furniture News Jan 17, 2017

Hypnos reports record growth

Hypnos has released its latest financial figures, revealing growth across the hospitality and retail markets within both the UK and internationally. The British business, which operates under Hypnos Ltd and Hypnos Contract Beds Ltd, reports an overall turnover for the group of over £62m for the year ending June 25th 2016, an increase of 32% on the previous year.

Furthermore, the group has seen a 60% YoY improvement in its underlying operating profit.

Owned by parent company Keen and Toms Holdings, the business attributes its performance to a continued focus on international outreach, as well as a series of new retailer account openings and new refurbishment programmes undertaken by its hospitality clients. Additionally, the hospitality business has benefited from the lease of its new facility in Castle Donington, which was officially opened in April by Prince Andrew, HRH The Duke of York.

Stephen Ward, Hypnos' group MD, says: “These are a very pleasing set of numbers to report as they are well in excess of the targets that we set ourselves five years ago. We have achieved significant growth in the UK in both retail and hospitality sectors and have started to see real traction in our international activities in both sectors. Our new five-year plan, which started in July 2016, is set to deliver continued growth both domestically and internationally, but not at the same rate that was the case in the last five years.

“Our products, our service, our people and our business philosophy are the foundations of our recent success, and will also underpin our future ambitions.”

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