The latest financial figures have been released by award-winning bed manufacturer Hypnos, revealing a period of considerable growth and expansion across the UK hospitality and retail markets, and also internationally.
The British-based business, which has been making luxury beds and mattresses for more than a century, has focused on developing its portfolio of global hoteliers and retailers which has led to an overall turnover for the Group of £47.3 million, a 29% increase on 2015.
The directors of Keen and Toms Holdings – which own Hypnos Limited and Hypnos Contract Beds Limited – are putting the growth down to the continued development of dedicated and focused teams, strategies and processes which efficiently manage Hypnos’ increasing operational scale.
This international approach has seen Hypnos develop its retailer network throughout Europe; create a new range of beds for the USA, made under license there and extend its USA retailer network; as well as increase the number of international licenses to make hotel beds, thereby strengthening Hypnos’ reach and capability to supply international chains like Marriott throughout the world.
John Woolley, Managing Director at Hypnos Contract Beds Limited said; “Our contract division has continued to see great success not only across the UK, but internationally too, with the company supplying both new and existing key accounts across the globe.
“This has contributed towards the Hypnos brand as a whole becoming more and more recognised around the world, and our reputation for superior quality and expertise in the UK bed market has now been cemented internationally. We are reaping the rewards of this success and are delighted to report another year of significant revenue growth, which has resulted in a very solid financial performance with improved margins, and profit growth of more than 78% in like-for-like operating profit.
“The business continues to perform extremely well with further significant growth being delivered in the current year. We had a 5 year plan for the business which we actually achieved in 4 years and our new plan reflects the need to maintain the focus on our performance in the areas where we’ve been successful, and to apply more focus to new markets and new opportunities that we have identified.
Whilst growing and expanding, Hypnos has been careful not to lose its focus on CSR and sustainability which has always been extremely important for the business. It was the UK’s first bed manufacturer to be awarded carbon neutral status and both UK factories have achieved FSC and PEFC certification, ensuring timber is sourced from managed forests. The business regularly undertakes tree planting exercises with local schools, as well as carrying out educational school tours to teach young people about the benefits of a good night’s sleep. The business ensures – wherever possible – that this responsibility to the environment and local communities is imitated overseas.