Newspaper article The Journal (Newcastle, England)

Better Sales Mix Boosts Earnings for Nobia Holdings

Newspaper article The Journal (Newcastle, England)

Better Sales Mix Boosts Earnings for Nobia Holdings

Article excerpt

THE company which owns kitchen manufacturer Magnet has seen its bottom line earnings triple despite a dip in sales. Darlington-based Nobia Holdings UK said pre-tax profits had been boosted after it cut sales costs by pounds 18.6m to pounds 300m in 2010 and succeeded in getting a "better mix of sales."

The Swedish-owned business said that turnover had slipped from pounds 471.7m in 2009 to pounds 467m last year due to the "stagnant kitchen market." But it looked ahead with optimism and the report said that "The directors remain confident that the group is in a strong postilion in the market and anticipate that profits will continue to increase in 2011." Nobia, which employs more than 2,700 staff over firms including Eastham, Larkflame and Hyphen Fitted Furniture, said that it was looking at ways of improving its manufacturing and further boosting its earnings this year. And the financial report added: "The group operates in a competitive market place where continuing growth is dependent on maintaining existing customer relationships and developing new business by offering high quality products and services "The key to success is to leverage the group's position through the premium which its service offering demands. …

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