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Diversification into new product areas helped West Yorkshire cabinet furniture and components group Decorative Panels put £10m more on its top line in the year to end March.


The vertically integrated group — which runs separate divisions manufacturing flatpack furniture kits, wood based panels and decorative sheet materials — grew sales by 13.9 per cent to £82.4m.


Pre-tax profits at the privately owned Elland manufacturer were up 5.5 per cent to £4.6m, with the business generating a net £7.7m cash from operations (2013: £4.9m) and cutting year-end net debt to £6.8m (2013: £8.3m).


Decorative Panels said expanding into new product segments had helped it grow sales, with the revenue breakdown seeing furniture sales up 6.3 per cent to £36.1m; wood based panels up 19.7 per cent to £23.2m; and decorative sheet materials rising 21.4 per cent to £23.1m.


* all figures taken from the consolidated group accounts of Decorative Panels Holdings



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