Leaner Morris returns to profit following disposal

8th May 2009 | manufacturing | The Morris furniture group has returned to profit despite a £13m fall in revenue in the year to 31st January. It chalked up a £3m operating profit on sales of £37m, whereas the year before it lost £5.1m with a turnover of £50m.

The sales shortfall is due to the disposal of Homestyle, its kitchen business, and the slowdown in consumer spending. The group is the owner of the Morris, Relaxateeze, G-Plan Cabinets and Zone residential furniture brands.

Joint md Robert Morris told Scottish newspaper The Herald that domestic sales were now the priority and they were confident for the future. He also said the headcount across the business had been more than halved in the past year.