Furmanac — the West Midlands motion furniture manufacturer behind the Mi-Bed and Mi-Chair brands — maintained its sales momentum in the year to end June.

Sales jumped 16.9 per cent to £12.9m for the privately owned Kingswinford firm, following growth of 26 per cent and 29 per cent in the two years immediately prior.

Pre-tax earnings declined 44 per cent to £187k, reflecting significant internal investments, the company said, though it added that underlying EBITDA had risen on the prior year.

The business generated a net £604k cash from operations (2013: £325k) despite increasing its investment in stock; though dividends, capital expenditure and finance movements meant year-end net debt climbed to £1.1m (2013: £691k).

Post year-end, Furmanac said it had hired Mike O’Connor as finance director (July 2014) and strengthened its balance sheet by securing new finance to deliver profitable growth (January 2015).