Tile Mountain has ambitious plans to expand its retail estate after seeing a significant jump in turnover and profits.
The Stoke-on-Trent-based tile retailer has filed its accounts for the year to 31 December 2023, reporting an almost 18 per cent increase in turnover from £86.5 million in 2022 to £101.8 million.
Pre-tax profits rose from £3.8 million in 2022 to £7.4 million in 2023.
According to a group strategic report, at the start of 2024 the board “set itself an ambitious target of doubling the turnover of the group, over two years” and it has “continued to see robust levels of growth across all product areas, with sales and profitability significantly higher than 2023”.
The report adds: “To support these ambitious plans, the group has further invested in distribution capacity, with a 200,000 sq ft automated warehouse, which will be fully operational in the final quarter of 2024.
“During 2024, the board has also made the decision to accelerate the number of new showroom openings and initial results have been very encouraging.
“As a result, we plan to expand our retail estate from 11 to 50 showrooms across the UK.”
The firm currently has showrooms across the country. It’s largest-ever one, spanning 20,000 sq ft, opened in Milton Keynes in June.
Last year, Tile Mountain Group was recognised as the 48th fastest-growing business in the Midlands and East of England by the Fast Growth 50 index.
