Leading bed etailer Mattressonline boosted dividends by a quarter last year.
The company’s parent Cocoon Sleep paid £125,000 in the year to 31 May 2022, up £25,000 on 2020/2021.
The move came after sales dropped from £37.4m to £28.7m, as the company faced increased brick and mortar competition compared with the year before.
Pre-tax profits dropped from £3.34m to £1.46m.
In contrast cash rose from £2.37m to £3.5m.
‘The prospects for the year to 31 May 2023 are very encouraging, the store expansion plan will cautiously continue and improvement to the ecommerce website are consistently being deployed. The group continues to operate a strong order book and the director [Steve Adams] is looking forward to another successful and profitable year,’ says the accounts.
