UK orders stable but sales drop for Stressless owner
Upholstery manufacturer Ekornes maintained UK orders in the second quarter of the year.
Orders rose by 6% for the first half but it suffered its worst first half to the year in the UK since at least 2008 for sales.
UK sales dropped 17.3% to NOK80.1m (£8.54m ) in the first half. This compares with figures of NOK96.9m, NOK119.6m, NOK97.7m and NOK123.6m in previous years.
Performance varied across the globe, with sales in its largest market – Central Europe (including Germany) – 3.5% higher at NOK397m, but 8.1% lower in the US at NOK276.4m. Southern Europe saw a not unexpected drop of 15.4% to NON167.5m while Norway generated a 1.6% rise to NOK167.7m. Japan was another bright spot with sales up by more than a fifth at NOK67.8m.
The company says that consumers seem cautious in most markets and although the trend for raw material prices is stable, it is at a high level.