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Wren Kitchens Nears 1bn In Turnover

Acton Showroom 725 x 500

Wren Kitchens has published accounts for the year ended 31st December 2021, advising of turnover of £916.5 million, 30% higher than 2020 (£703.1 million).

The business, which is headquartered in Barton upon Humber, North Lincolnshire, also achieved a 30% increase in gross profit, which reached £445.6 million for the year.

EBITDA was £136.4 million - 27% higher then the previous year - while profit before tax climbed by 34% to reach £100.6 million.

Wren now employs nearly 7,000 staff, more than 2,000 more than in 2020.

Within the accounts filed at Companies House, Wren noted that its network of 105 stores (now 106) is less than half of the store networks of its competitors, and it has identified a number of sites of interest across the UK.

Wren invested £72.5 million during the reporting period, advising that it opened a second stone workshop fabrication plant which has doubled capacity and provides continuity of production in case of a problem at any one site. Furthermore, the planned second manufacturing plant at the head office site is on track for completion in the third quarter of 2022, increasing capacity and providing more security within the supply chain.

The company held higher stock levels during the year - £58.9 million compared with £39.7 million in 2020 - and will continue to do so until there is more clarity regarding the strength and security of the global supply chain. 

The US business is performing in line with expectations; three showrooms were opened during the period and a further five will open during 2022. 

Source : Insight DIY 

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19 May 2022

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