Silentnight, the UK’s “most trusted sleep brand,” achieved notable revenue growth this year.
- The acquisition of Sleepeezee played a significant role in the financial success.
- Revenue increased by 29% to £143.8m for the year ending January 2024.
- Business-to-business demand significantly contributed to the revenue surge.
- Earnings and pre-tax profits witnessed a substantial increase, despite challenges.
Silentnight, widely regarded as the most trusted sleep brand in the UK, reported a remarkable surge in revenue, reaching £143.8 million in the year ending January 2024. This 29% increase from the previous year was attributed to the strategic acquisition of Sleepeezee, renowned for supplying beds to King Charles.
The acquisition enhanced Silentnight’s competitive edge, particularly amid an increasingly challenging operating environment. The company’s growth was significantly bolstered by rising business-to-business demand coupled with resilient performance in the consumer division, which collectively mitigated potential market adversities.
The financial metrics further underscored the company’s success. Earnings before interest, tax, depreciation, and amortisation (EBITDA) climbed by 43% to £12.6 million, while pre-tax profit increased to £10.0 million from £6.3 million in the previous year. This robust performance highlights Silentnight’s effective business strategies and market positioning.
Tracey Bamber, Silentnight’s chief executive, emphasised the company’s commitment to maintaining consumer trust while expanding its contract business, stating: “Our laser focus on retaining the trust of consumers, to maintain our position as the most trusted brand in the market, while also growing our contract business, delivered strong financial results last year on both the top and bottom line.”
Silentnight, part of HIG-owned The Sleep Group, benefited greatly from bringing together Silentnight and Sleepeezee under one umbrella, enhancing their market proposition across various price points. This merger provides a comprehensive offering to consumers, reinforcing Silentnight’s market leadership.
The company’s past controversies, particularly involving the 2011 sale to HIG Capital and the resulting conflict of interest allegations against KPMG, appear to have been overshadowed by the recent financial accomplishments and strategic growth initiatives.
Silentnight’s revenue surge post-acquisition underscores its robust market strategy and resilience in a challenging environment.
