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The value of U.K. furniture manufacturers' combined turnover was the highest ever recorded in February, according to new figures from the Office for National Statistics.
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The price instability in the crude oil and natural gas markets has triggered the introduction of phenomena that the foam industry has not seen for decades, according to the head of the organisation that represents the principal actors in the sector.
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BFM says U.K. furniture retailers should prepare for further price rises after its members were hit by a slew of rising input costs amid an already inflationary environment.
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Letters promising further price rises have landed in British furniture makers' inboxes in recent days just as official figures indicated the worst may have passed for raw material price inflation.
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BFM Fabric Show organiser British Furniture Manufacturers (BFM) says it is committed to re-investing in the event for next year after last week's return for the exhibition met with a positive response.
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Furniture manufacturers' turnover was higher on a year-on-year basis for an eleventh straight month in January, but it was also the weakest growth recorded since March last year.
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The BFM Fabric Show London event has attracted almost a third more exhibitors than previous editions after an increase in supplier interest ahead of its return next week.
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Adjusted profits at Belgian foam conglomerate Recticel more than doubled last year while its CEO says the business will continue to adapt pricing where necessary.
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Input cost inflation for U.K. furniture manufacturers last month eased to its lowest level since July 2021, but remains at a historically high level.
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Full year furniture makers' combined turnover failed to recover all the revenue lost to lockdowns as supply chain challenges hindered producers' efforts to meet demand.
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Privately-owned heritage manufacturer Ercol Furniture (ercol) has promoted finance director David Finch to managing director with immediate effect.
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A lack of skilled workers has forced furniture production wages higher, according to the British Furniture Manufacturers (BFM), the industry trade association.
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Foam and industrials group Greiner is for now pressing ahead with plans to acquire what will remain of Recticel even though the Belgian company has agreed deals to dispose of two sizeable chunks of its business.
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The price of raw materials and inputs used in the production of furniture rose to another record level in November according to new figures from the Office for National Statistics (ONS).
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