millbrookBedsBed manufacturer Millbrook is back on the path to profit after work to restructure the business and find new customers paid off, its owners have said.

The Southampton based producer is forecast to make a small profit in the year to end June, according to just filed group accounts signed by finance director and co-owner Paul Croll.

Millbrook’s bed division recorded losses of £1.7m in 2013–14 — up from £983k the prior year — as it continued its restructuring, the company said.

It added: “As a result of the restructuring, a cost-saving programme and new customers, the directors believe this business has turned the corner and will return a modest profit to June 2015.”

Millbrook Beds is part of the diversified Millbrook Industries group, whose activities span healthcare, logistics, manufacturing and contracting businesses operating across private, commercial and Government sectors.

Group pre-tax profits declined 80 per cent to £321k (2013: £1.6m) despite consolidated revenues rising 14 per cent — or £8m — to £68.8m.

Of that, bed manufacturing turnover totalled £3.9m, up 0.5 per cent on 2012–13. Healthcare mobility contracts and healthcare goods sales totalled £54.7m (2013: £43.9m) and represented the lion’s share of sales.