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THE GROUP behind bedroom cabinet maker Home Décor trebled underlying profits in 2016 as revenue jumped to nearly £40 million including acquisitions.

 

The Sheffield based group acquired Optiplan Kitchens for £6 million last July, with the part-inclusion of that business helping swell revenue by 35 percent to £39 million.


Optiplan contributed £9.0 million of that, with sales from its heritage bedroom cabinet business—it operates the Spaceslide wardrobes brand among others—up 3.8 percent to £30 million year-on-year.


Underlying EBITDA* trebled to £1.5 million for the Cerberus Capital Management backed business, with statutory pretax losses flat at £3.3 million.


Like many private-equity backed businesses, most of the difference between EBITDA and statutory profits is down to the way the business is capitalised through shareholder loans and because of non-cash goodwill charges.


On top of last year's Optiplan buy, Home Décor had acquired bedroom furniture company Portico Midlands for £4.4 million in February 2014, with the goodwill from both buys being written down over a number of years.


* excluding £532,000 of acquisition costs relating to the purchase of Optiplan Kitchens

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