Airea profits rise but competition remains ‘fierce’

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SUCCESSFUL product launches and a restructured sales force boosted trading in the second half of the financial year for carpet manufacturer Airea but it is still awaiting the long anticipated recovery in the residential market.

The Osset-based company said pre-tax profit rose from £170,000 to £330,000 in the year to June 30, although turnover fell from £25m to £23.3m.

It added that an ongoing squeeze in disposable incomes, continuing austerity in the public sector, and problems in the euro zone combined to give a mixed picture, while competition for work remained fierce throughout the year.

In a statement Airea said: “We approach the new year recognising that competition will remain fierce, but with the confidence that the development of our strategy continues to improve our competitive position.”