Bed maker profits rise and shine

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The Independent Online
Silentnight Holdings, the bed manufacturer, saw profits rise by 29 per cent to pounds 14.3m last year boosted by strong sales in its core UK market and its growing business in the United States. The shares rose 10 per cent to 328p on the news.

Bill Simpson, chief executive, said: "It is the group's continued aim to maintain its strong position in the UK bed market, to grow its share of the UK cabinet market and to grow its bed business in North America both organically and by acquisition when suitable opportunities present themselves."

He added that he expected a more normal rate of sales growth in the bed market this year whilst the company had planned for further growth in the cabinet business.

Group sales rose from pounds 189m to pounds 212m in the year to 1 February. The dividend was increased by 25 per cent to 10p a share.