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bespOakVancouverFurniture supplier Besp-Oak posted strong 2013–14 earnings growth as it made the most of rising wholesale demand.


The Coventry based firm — known as the originator of the Vancouver oak furniture product line — grew pre-tax profits by 5 per cent to £1.5m in the year to end August.


Its earnings growth was driven by a rise in higher-margin wholesale orders, leading to a 270 basis points uplift in gross margin to 28.8 per cent.


Total revenue dipped 3.3 per cent to £11.9m, the result it said of a decline in container orders, which generate larger sales but at lower margins.


The Midlands firm — which post year-end has relaunched its brand image including a new website — generated a net £259k cash from operations and ended the year with net funds of £2.5m.



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