Silentnight: Profit at mattress supplier up nearly a third
Mattress supplier Silentnight has reported a sharp uptick in revenue in the last financial year as business and consumer demand for beds increased.
Revenue at the UK’s “most trusted sleep brand”, reached £143.8m in the year to the end of January 2024, up 29 per cent from £111.3m in the previous year.
The company, which has manufactured its products in Lancashire for over 75 years, said sales were supported by increasing business-to-business demand and a “resilient” performance by its consumer division despite a “challenging operating environment”.
Earnings before interest, tax, depreciation and amortisation (EBITDA) was £12.6m, up 43 per cent from £8.8m in 2023. Pre-tax profit was £10.0m, up from £6.3m in 2023.
Silentnight is part of HIG-owned The Sleep Group, which also acquired Sleepeezee, the Kent-based bed and mattress manufacturer and supplier of beds to King Charles earlier this year for an undisclosed sum.
Tracey Bamber, chief executive of Silentnight, said: “Our laser focus on retaining the trust of consumers, to maintain our position as the most trusted brand in the market, while also growing our contract business, delivered strong financial results last year on both the top and bottom line.
“With The Sleep Group bringing together Silentnight and Sleepeezee, I believe we now have the most compelling offer in the market. The two brands are complementary, serving customers at every price point.
“Looking ahead, we continue to invest in both our brand and product offering and are well placed to continue being the first port of call for consumers seeking a brand they can trust for a good night’s sleep.”
KMPG was later fined £13m due to misconduct during the sale of Silentnight.